Last week the Canada Mortgage and Housing Corp (CMHC) announced an increase in its mortgage default insurance applicable to Buyers who pay less than 10% of the downpayment while purchasing a property. This increase is set to come into effect as of June 1st and does not apply to mortgages currently insured by the CMHC. What is Mortgage Insurance? Much …
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It appears that change is underway for the Canada Mortgage and Housing Corp. (CMHC) — and this is not the first time. Over the last decade, CMHC protocol has been altered many times to make federal-backed mortgage insurance more difficult to obtain. Since the CMHC is accountable for more than 75% of the mortgage default insurance market, and is 100% …
Read More »I recently met up with Aamir Jamil who is the broker of record for Mortgage Alliance and picked his brain to answer questions that I get from our views. Youtube Link Information reviewed was: Mortgage Approval Criteria Used TDS and TDS Income calculations CMHC Criteria Recent changes from CMHC If you have any specific question about mortgages or would like …
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Torontonian Online Running in the fast lane! Real estate and more…
