All items tagged with: qualifying for a mortgage
Posted in: Strategic Thinking , Debt Management, Financial Literacy, self-employed, Evelyn Jacks, mortgage, entrepreneur, mortgage down payment, mortgage lenders, proprietor, qualifying for a mortgage, self-employed mortgage, Canadian Mortgage and Housing Corporation, CMHC, applying for a mortgage, Proof of Income Statement
Single, self-employed Canadians have struggled with mortgage lending requirements for many years. But that’s all about to get easier starting on October 1, as new guidelines will improve borrowing eligibility of current or aspiring proprietors.
Posted in: Strategic Thinking , Debt Management, Real Wealth Management, Financial Literacy, Financial Advisor, investment, knowledge bureau, interest rates, Evelyn Jacks, real estate, master financial advisor, retirement income, financial education, mortgage stress test, mortgage lenders, Retirement and Estate Services Specialist, holistic wealth management, Canadian debt levels, debt to income ratio, qualifying for a mortgage, wealth building, Tax Strategies for Investors
In January, a new mortgage stress test was put in place requiring Canadian home buyers to qualify at rates higher than the benchmark interest rates imposed by the Bank of Canada and individual lenders. The implications to Canadian debt levels and the housing market are factors advisors should consider when offering holistic advice to clients.