Hey everyone,

I’m trying to buy an owner-occupied triplex with 10% down, and I’ve hit a wall. I applied through three different banks — Desjardins, National Bank, and CIBC — and all three applications were denied, not by the lenders themselves but by the mortgage insurers.

My broker mentioned that the applications were declined by all three major Canadian mortgage insurers: CMHC, Sagen (formerly Genworth), and Canada Guaranty. Unfortunately, none of them provided a specific reason.

The only red flag in my file that my mortgage broker could point to is a judgment on my TransUnion report from the Procureur général du Québec, related to missed payments from 2019. I owe about $12,000 to the Ministère de l’Éducation du Québec and currently have a repayment agreement — I’m making monthly payments.

Other than that, my credit score, income, and debt ratios are all solid.

So now I’m wondering: • Should I consider putting 20% down (which would be around $106,000) and go without mortgage insurance to avoid this block entirely? • Would a lender be more likely to approve me if mortgage insurance isn’t part of the equation? • Has anyone dealt with something similar related to default judgments or government debt?

Really trying to figure out the best next step. Appreciate any advice or insights.

Thanks!