More Mortgage Changes

  There isn’t much doubt that more significant mortgage rule changes are on the way perhaps as early as October 2, 2017. Canada’s banking regulator OSFI (the Office of the Superintendent of Financial Institutions) is further attempting to cool down certain hot housing markets by implementing a ‘stress test’ to qualify for uninsured mortgages. The new ‘stress test’ will require a qualifying rate of 2% over the contract rate. Uninsured mortgages account for approximately 65% or more of the mortgage […]

more mortgage changes

mortgage stress test

New Mortgage Stress Test

This video explains the changes the Canadian government has recently made to how Canadians qualify for insured mortgages. They have instituted what is being called a “stress test” for your mortgage.      


Mortgages After Bankruptcy

  You may think that it is impossible to obtain a mortgage after you have declared bankruptcy in the past. Admittedly it can be a difficult process but there are options available if you are willing to do the work. The most important factor that a lender is going to look at is your credit score. Buying a home after bankruptcy is not the same as buying a home when you have no credit issues. Many lenders will consider your […]