Mortgage Without The Stress Test

Starting from early 2018, the Government of Canada introduced the B-20 Guideline (Stress Test) that affected the ability of many Canadians in qualifying for a mortgage.

Stress Test was then implemented by many federally regulated financial institutions, such as the Big Banks.  Based on the Stress Test means your application for a mortgage loan is qualified based on the 5-Year Benchmark Rate set by the Bank of Canada,

which is historically higher than the actual interest rate that is charged by the financial institutions to borrowers. 

As a result, creating a stress effect to the potential borrowers that simulates a situation whereby the mortgage interest rates drastically increased. 

The good news is, do you know, that there are regulated financial institutions that qualify you for a mortgage loan without the Stress Test?

This means that, without the Stress Test based qualification, you are able to borrow more with the same down payment amount!

Get started below by booking a call with our preferred mortgage partners to find more.