30 Oct

Significant Mortgage Qualifying Rules changes from OSFI

General

Posted by: Tom Neeb

OSFI recently announced further rule changes which will likely have a significant impact on may people contemplating purchasing a home in the future, or even refinancing their home in the future. These changes come into affect in the new year. This document outlines the rules changes and the possible impact they may have.

Now more than ever before clients need to seek the services of a mortgage professional to review their particular circumstances before purchasing a home.

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26 Oct

NEW MORTGAGE RULES AGAIN! JAN 1ST

General

Posted by: Tom Neeb

NEW MORTGAGE QUALIFICATION RULES COME INTO EFFECT JAN 1,2018 WHICH WILL CERTAINLY NEGATIVELY IMPACT MANY PURCHASERS. STRESS TEST RULES WILL FORCE LENDERS TO USE A SIGNIFICANTLY HIGHER RATE FOR QUALIFICATION PURPOSES WHICH WILL IN TURN REDUCE THE AMOUNT OF MORTGAGE WHICH CAN BE APPROVED. IF YOU ARE “SITTING ON THE FENCE” ACT NOW…GET PRE-APPROVED