A “no stress test mortgage” refers to a mortgage product that does not require the borrower to undergo the mortgage stress test, which is a mandatory qualifying requirement in Canada.

The stress test is designed to ensure that borrowers can still afford their mortgage payments even if interest rates rise significantly.
Obtaining a no stress test mortgage may be an option for borrowers who are unable to pass the stress test or have difficulty meeting the debt service ratios required by traditional lenders. However, these types of mortgages may come with higher interest rates and stricter requirements, such as larger down payments and more extensive credit checks.

It’s essential to carefully consider the risks and consequences before choosing a no stress test mortgage. It’s always a good idea to seek professional financial advice and work with a licensed mortgage broker to explore all available options and find the best mortgage product to suit your needs and financial situation.

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