Affordability and Qualification

Down payment money sourced from another loan, which brings tighter lender and insurer review.

Buyer cash contribution that reduces the mortgage amount and influences LTV and insurance treatment.

Canadian down payment rules, insurer language, and default-insurance terms that shape insured and insurable borrowing.

Qualification ratio that measures housing costs against gross income in Canadian underwriting.

Non-repayable gift used toward a home purchase, usually documented for lender and insurer review.

Documents and review steps lenders use to confirm employment, earnings, and income stability.

Ratio between mortgage amount and property value that shapes insurance, refinance, and equity limits.

Rules governing the buyer's minimum cash contribution and its effect on insurance, eligibility, and funds needed to close.

Early lender assessment that estimates borrowing capacity without guaranteeing final approval.

Informal early affordability estimate that carries less lender commitment than pre-approval.

Evidence that the borrower can supply the down payment, closing costs, and other required cash.

Canadian approval terms including the stress test, GDS, TDS, LTV, pre-approval, and borrower documentation.

Qualification rule that tests affordability using a rate above the contract rate.

Qualification ratio that adds other debt payments to housing costs when measuring affordability.