Question 1

Does the stress test still apply if I have 20% down?

Accepted Answer

Yes. Uninsured mortgages at federally regulated lenders are covered by Guideline B-20 too. The rule bites regardless of your down payment — the only common escape is a provincially regulated lender such as a credit union, which sets its own policy.

Question 2

Why is my real payment so much lower than the qualifying payment?

Accepted Answer

Because the stress test deliberately approves you for a payment you are not making. That gap is the buffer — it is what happens to your budget if rates are two points higher at renewal.

Question 3

What counts as "other monthly debt"?

Accepted Answer

Car loans and leases, student loan payments, the minimum payment on every credit card, and roughly 3% of any line of credit balance. Lenders count the obligation, not what you actually pay.