Module 2 · Lesson 1 of 6 · 8 min read
The Mortgage Stress Test
How OSFI qualifying rate affects your buying power
Slide 1 of 4
What Is the Stress Test?
Since 2018 (B-20 guidelines from OSFI), all federally regulated lenders must qualify you at the OSFI minimum qualifying rate: the greater of (a) your actual contract rate + 2%, or (b) 5.25% (the "floor"). Insured mortgages use the same test under federal rules.
Tip: The stress test applies to all buyers, not just those with less than 20% down. Even if you have 40% down, you are stress-tested.
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