06/05/2020
CMHC is changing underwriting criteria from July 1, 2020. Take advantage of mortgage financing with the current guidelines before it changes with down payment less than 20%. Call me to discuss your mortgage financing needs.
The COVID-19 pandemic has hit the ๐จ๐ฆ economy โ including the housing market. To protect Canadians, weโre making changes to the mortgages that we insure.
As of July 1, we โre making changes to how we assess your debt service ratios and credit scores. Weโre also no longer accepting borrowed down payments.
These changes will reduce risk to taxpayers, support the stability of ๐ markets and protect the economic futures of ๐จ๐ฆ.
Info: http://ow.ly/J4qh50zYZuo