Reference · 2026
Canadian mortgage rules for 2026
Every rule our calculators use, in one place, each linked to the official source and the date we last checked it.
| Rule | 2026 value | Source |
|---|---|---|
| Interest compounding | Fixed-rate mortgages state interest compounded semi-annually, not in advance (Interest Act). | Interest Act, s. 6 |
| Minimum down payment | 5% of the first $500,000, 10% of the portion up to $1.5M; 20% at $1.5M or more. | CMHC · Mortgage loan insurance cost |
| CMHC premium | 4.00% (5–9.99% down), 3.10% (10–14.99%), 2.80% (15–19.99%); +0.20% for amortizations over 25 years. | CMHC · Mortgage loan insurance cost |
| Premium sales tax | Ontario 8%, Quebec 9%, Saskatchewan 6%; paid at closing, cannot be financed. | Ontario · Sales tax on insurance premiums |
| Maximum insured amortization | 25 years; 30 years for first-time buyers and new builds (since Dec 15, 2024). | CMHC · Mortgage loan insurance cost |
| Stress test | Greater of contract rate + 2% or 5.25%. | OSFI · Minimum qualifying rate |
| Debt service limits | GDS ≤ 39%, TDS ≤ 44% (CMHC). Condo fees count at 50%. | CMHC · GDS and TDS limits |
| Ontario land transfer tax | 0.5% / 1% / 1.5% / 2% / 2.5% brackets at $55k, $250k, $400k, $2M; first-time refund up to $4,000. | Ontario · Land transfer tax rates |
| Toronto MLTT | Same as Ontario to $2M, then 2.5% to $3M, 4.40%, 5.45%, 6.50%, 7.55%, 8.60%; rebate up to $4,475 (from Apr 1, 2026). | Toronto · Municipal land transfer tax rates |
| B.C. property transfer tax | 1% to $200k, 2% to $2M, 3% above, +2% over $3M; first-time exemption to $835k ($8,000), phased out at $860k. | B.C. · Property transfer tax rates |
Last verified November 1, 2026. Not modelled yet: Quebec welcome tax (municipal), Manitoba, New Brunswick, Nova Scotia, P.E.I. and Newfoundland transfer taxes, B.C. newly built home exemption. See the roadmap.