From CaRMS Match Day to keys: a mortgage timeline for new residents

Short answer: Match Day for 2027 is March 2. Get your documents ready during interviews, get pre-approved on projected income once you match, and aim to close in June before residency typically starts on July 1.

The 2027 CaRMS and mortgage timeline

1. Before interviews

   Get your file ready

   Check your credit report, note your line of credit balance and limit, and gather ID and your medical school documents. Your line of credit will shape your approval more than anything else.

2. Jan 16 to Feb 7, 2027

   Interviews

   A good time to talk to a broker about which lenders accept projected income for incoming residents and how each counts your line of credit.

3. March 2, 2027

   Match Day

   Results come out at noon Eastern time. Keep your match confirmation; it is the first document a lender will ask for.

4. March to April

   Pre-approval

   With your match confirmed, lenders can pre-approve you on projected income. Scotiabank pre-approvals can last up to four months, covering a closing before residency starts.

5. April to June

   House hunting and closing

   Make your offer subject to financing, finalise the mortgage and close. First-time buyers in BC pay no transfer tax on homes up to $835,000.

6. Typically July 1

   Residency starts

   Most residencies begin on July 1. Closing a week or two earlier gives you time to move before your first rotation.

If you do not match in the first iteration

Unmatched applicants regain access to the CaRMS system on March 2 for the second iteration. Program rank lists are due April 1 and applicant rank lists April 8, 2027. A post-match process runs from April 21 to May 12. If you are in the second iteration, a closing date in late June is still realistic, but tell your broker early so the rate hold and pre-approval line up.

What lenders ask incoming residents for

• Your match confirmation or residency contract.
• Government ID and your credit report.
• Line of credit statements showing the balance and the limit.
• Proof of your down payment, or a signed gift letter from family.

Two BC rules to know before you buy

• Home flipping tax: selling within 730 days can trigger a tax of up to 20% of the profit. Think about this if your program is two years long or you may leave for fellowship.
• First-time buyer exemption: no property transfer tax on homes up to $835,000, phasing out by $860,000. Use the BC closing cost calculator to see your cash to close.