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Changes to Mortgage Rules taking Effect July 1

Monday, June 8, 2020   /   by Olga Sydorchuk

Changes to Mortgage Rules taking Effect July 1

As of July 1, CMHC announced they are tightening the ability to qualify for a mortgage. We are joined today by Joe Jacobs with Mortgage Connection to talk about the following changes; 1) Credit Score 2) Debt Service Ration 3) Debt Servicing 4) Gifting These will be taking effect in a few weeks. Also talking about what other insured lenders are doing (Genworth and Canada Guarantee) are doing. And a Silver lining on Interest rates, both variable and fixed.

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Comox Realty Group Inc.
Chris Matlashewski
Suite 7, 1715 27 Ave. NE
Calgary, AB T2E 7E1

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