Section
Borrowing against your home
How lenders value your home, what renewal and switching change, the gaps that stop a refinance and how the stress test applies to a refinance or HELOC.
Why lenders revalue your home before they lendWhy Canadian lenders appraise or use an AVM before a refinance or HELOC: OSFI B-20 valuation expectations, appraiser independence and the 80%/65% limits.Read →Renewal and switching: when a new appraisal or stress test appliesDoes renewal or switching lenders trigger a new appraisal or the stress test? OSFI exempts straight switches from the qualifying rate; adding money is a refinance.Read →Refinancing gaps: why the equity you see isn't the equity you getThe four gaps that block a Canadian refinance: value (80% limit), income (stress test), penalty and credit. How to spot yours and the fixes for each.Read →The stress test on a refinance or HELOCHow the stress test applies when you refinance or open a HELOC: qualify at the greater of your rate + 2 or 5.25%, GDS 39% and TDS 44%. Income tables, worked.Read →How much equity can I take out?The 80% and 65% limits, worked.Read →