Do Ontario credit unions have to apply the federal stress test?

No. Credit unions are provincially regulated, so OSFI's B-20 guideline doesn't bind them. Many apply similar prudence tests of their own, but they have more flexibility — which can matter if you're near the edge of qualifying for a refinance rather than a straight switch.

How do I check a mortgage broker is licensed in Ontario?

Search FSRA's public registry of licensed mortgage brokers and agents. Every legitimate Ontario broker has a licence number they'll happily give you.

Homeowner guide · Ontario

Mortgage renewal in Ontario

Renewing a mortgage in Ontario works under the same federal rules as the rest of Canada — the 120-day rate-hold window and the stress-test exemption for straight switches both apply. Provincially, mortgage brokers and agents are licensed by FSRA (the Financial Services Regulatory Authority of Ontario), and Ontario's credit unions — regulated provincially, not by OSFI — can be aggressive renewal competitors worth including in your quotes.

Licenses Ontario's mortgage brokers and agents: FSRA
On straight switches since Nov 21, 2024: No stress test
Typical rate-hold window before maturity: 120 days

Shopping your renewal in Ontario

Ontario has the deepest lender market in the country: the big banks, monoline lenders who sell only through brokers, and large credit unions such as Meridian and DUCA. Because monolines don't have branches, their rates only surface through a broker — which is why an Ontario renewal shopped through a broker often beats the best branch offer. Check that any broker you use is licensed in FSRA's public registry.

Ontario carries some of the largest mortgage balances in Canada, which cuts both ways at renewal: payment increases hurt more, but every basis point you negotiate is worth more too. On a typical Toronto-sized balance, the gap between a posted renewal and a negotiated one can be thousands of dollars a year.

The Canada-wide guideTimelines, negotiation, and the rules that apply everywhere.Explore OntarioCities, neighbourhoods, and local insights.

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Homeprint watches your renewal so you don't have to

Everything above is work: finding your maturity date, remembering the 120-day window, digging out statements for quotes. Homeprint reads your mortgage documents when you add them, tracks the renewal date, and tells you when the window opens — with your details ready to hand to any lender or broker.

Your maturity date, rate, and balance pulled from your documents automatically
A nudge when the 120-day window opens — not after the letter arrives
Your details pre-filled and ready to share for competing quotes

Mortgage renewal in Ontario — FAQ

Elsewhere in Canada

Mortgage renewal in other provinces

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