# How do lenders assess my financial situation during portability?

> Lenders check your income, credit history, and debt ratios to make sure you can comfortably handle the mortgage.

Category: Strategy
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/strategy/how-do-lenders-assess-my-financial-situation-during-portability

## Answer
Lenders check your income, credit history, and debt ratios to make sure you can comfortably handle the mortgage. They also evaluate the new property's value to determine the loan-to-value (LTV) ratio. Lenders must follow OSFI's guidelines on responsible mortgage lending from Guideline B-20.

## Institutional highlights
- Lenders check your credit, but your credit score isn't the only thing they consider.
- Your GDS and TDS ratios are important to show what you can comfortably afford for your mortgage.
- The lender will need to confirm the value of the property, and may require an inspection or appraisal.
- Keep all your documents organized, including proof of income and your purchase agreement.
- Lenders carefully manage risk when approving your mortgage portability.

## Related guide
- https://ratellow.com/guides/mortgage-portability-guide

## Sources
- OSFI exempts uninsured mortgage straight switches from the prescribed MQR and implements portfolio LTI limits — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/osfi-exempts-uninsured-mortgage-straight-switches-prescribed-mqr-implements-portfolio-lti-limits
- I. Purpose and scope of the guideline — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#1.0
- Mortgage insurance — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#2.5.1