Mortgage strategy for CHEO paediatric residents, fellows, and attending specialists. Built around long training timelines and the Ottawa housing market.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Children's Hospital of Eastern Ontario is in Ottawa, Ontario. Affiliation: University of Ottawa. Other hospitals nearby: The Ottawa Hospital and Montfort.
Price: Ottawa Real Estate Board, MLS HPI. Tax: Ontario Ministry of Finance, calculating land transfer tax; Ontario, land transfer tax refunds for first-time homebuyers. Rates reviewed August 2026.
Physician mortgages in OttawaHighest purchase price, 10% down, no student debt, 4.49% stress tested at 6.49%, kept below the $1.5M insured limit. Resident pay: PARO-OTH arbitration decision, September 24, 2024, in effect July 2025. The agreement expired June 30, 2026. PARO states its terms, including salary, stay in effect until a new agreement is reached. No 2026 grid had been published when this table was reviewed. Program figures: Physician projected-income program factsheet, September 2023 edition.
How does CHEO paediatric training affect mortgage qualification timing?
Paediatrics residency is four years, and subspecialty training usually adds two or more. Physician programs follow you through it: $185,000 in PGY-1 and PGY-2, $225,000 from PGY-3, and $300,000 for Pediatrics in the final year or within 36 months of finishing. You do not need to wait for a staff job to buy.
Can CHEO fellows qualify without a signed attending offer?
Yes. Fellows qualify on the program schedule for their year of training, without a staff offer. A signed staff offer makes the file stronger and can count as income on its own.
Buying on a signed staff offerWhat neighbourhoods make sense for CHEO staff?
Alta Vista for walking distance to CHEO and the General campus. Old Ottawa South, the Glebe, and Heron Gate for short-transit proximity. Barrhaven and Orleans for family homes at 20-25 minute drive.
Is CHEO treated as a University of Ottawa teaching site?
Yes. All physician mortgage programs treat CHEO residents and attending staff as full U of Ottawa teaching affiliates.
What is the typical PLOC strategy for a CHEO resident?
Physician programs need at least 10% down, and at least 5% of the price must be your own money. On an $800,000 home that is $80,000 down, of which up to $40,000 can come from your line of credit or a gift. The drawn balance then counts as a monthly payment at 5.25% over 15 years.
Read the line of credit guideCan CHEO residents qualify for a mortgage while on parental leave?
Often, yes. Lenders look at your program confirmation, your stage of training and your expected return date. How each lender treats a leave during residency differs, so we confirm the rule with the lender before you apply.
See the projected income schedule
