The minimum down payment in Canada is 5%. For down payments of less than 20%, home buyers must purchase mortgage default insurance, commonly referred to as CMHC insurance.
Always make payment on time or at least the minimum payment if you can't pay the full amount.
Try to use less than 35% of your available credit.
Increase the length of your credit history.
Don’t apply for new credit.
Avoid making large purchases like a car on credit.
Don’t leave or switch jobs.
Don’t move your down payment / making large deposits.
The mortgage stress test requires all federally regulated financial institutions to determine if you can make your mortgage payments should the interest rates increase.