Regulation

CMHC

Canada Mortgage and Housing Corporation

The federal crown corporation that insures high-ratio mortgages (less than 20% down) and runs national housing programs. CMHC sets the rules that govern insured mortgages in Canada.

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B-20

OSFI Guideline B-20

OSFI's underwriting guideline that governs federally regulated lenders. B-20 introduced the mortgage stress test and the dual qualifying rate, and shapes most of the rules you experience at any A lender.

FHSA

First Home Savings Account

A registered account introduced in 2023. Contributions are tax-deductible (like an RRSP), withdrawals for a qualifying first home are tax-free (like a TFSA). $8,000/yr, $40,000 lifetime cap.

FSRA

Financial Services Regulatory Authority

Ontario's mortgage broker regulator. Replaced FSCO in 2019. All Ontario brokerages, agents, and brokers operate under FSRA licensing. Mortgage Squad Advisors is FSRA-licensed #13737.

RRSP Home Buyers' Plan

RRSP HBP

A federal program letting first-time buyers withdraw up to $60,000 from their RRSP toward a down payment without paying tax — provided the funds are repaid to the RRSP over 15 years.

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