Before you fall in love with a unit

What do you actually qualify for?

Down payment, monthly carrying cost, and the income you need to show on your last two years of tax returns. Then it tells you which of the 25 eligible buildings are realistically in range.

Read this first, it changes your number

The down payment rules depend entirely on whether you are going to live in it, and most people get this backwards.

  • Pure investment, you never live there. Minimum 20 percent down. Full stop. Mortgage insurance is not available on a non owner occupied rental, so 5 and 10 percent down do not exist on this path, and neither do the first time buyer insured programs.
  • You live in it as your home. Now you are a normal owner occupier. 5 percent down is on the table, the first time buyer benefits apply, and because these 25 buildings have no principal residence requirement you can still rent it nightly when you are away.

Cash you need to close
$—
Monthly payment
$—
Household income you must show
$—
Two years of T1 Generals / Notices of Assessment

Which buildings are in range?

Based on your income, against every unit currently listed in the 25 eligible buildings. Snapshot as of October 4, 2026.

Get this run properly

This is an estimate built on posted rules, not an approval. Lender policy varies, and the big one on this path is that most lenders will not count short term rental income until you have two years of it declared on your tax returns. Projected Airbnb revenue usually does nothing for your application on day one.

Get introduced to a broker who does these

Estimates only, for general information. Stuart Wallensteen is a licensed REALTOR®, not a mortgage broker or lender, and nothing here is mortgage advice, an offer of credit, or a pre approval. Figures use posted federal qualifying rules and typical lender ratios and will differ from an actual lender decision. Verify everything with a licensed mortgage professional before making an offer.