To qualify for a mortgage in Ontario, you must prove your financial stability by maintaining a credit score above 680, passing the federal mortgage stress test, and keeping your debt-service ratios within strict limits. You also need a minimum down payment of 5% to 20%.

A good mortgage lender or broker will be transparent and explain the loan terms clearly and simply, without relying on jargon. They must guide you through critical details like interest rates, amortization, and prepayment penalties so you fully understand your commitments

Yes, it is possible to get a mortgage without a traditional credit score, though it requires extra steps. Because lenders need to assess your ability to repay, you will typically need to prove your financial reliability using alternative methods

Your maximum home purchase budget is primarily determined by your gross household income, your down payment, and current mortgage rules. In Canada, lenders limit your monthly housing costs (mortgage, taxes, heating, and 50% of condo fees) to 39% of your income, and total debts to 44%