← Guides

Canada mortgage stress test (educational)

Federally regulated lenders in Canada use a minimum qualifying rate (MQR) when assessing many mortgages. OSFI publishes the structure as the greater of the negotiated contract rate plus a buffer (currently described as 2%) or a floor rate (currently described as 5.25%). Always confirm the live OSFI page before relying on the floor/buffer values — they can be reviewed by OSFI.

Source: OSFI minimum qualifying rate. FCAC consumer explainer: Preparing to get a mortgage.

Our calculator lets you enter an assumed contract rate and applies that published structure for an educational payment comparison. It is not a lender decision.

Educational only — not advice or an offer of credit.