Updated almost 11 years ago on . Most recent reply
New Rules for No-Down and Low-Ratio Canadian Mortgages
Hi! What are your thoughts on this: New rules for No-Down and Low-ratio Canadian Mortgages https://www.butlermortgage.ca/uncategorized/new-rules-for-no-down-and-low-ratio-canadian-mortgages/ I think its gonna be difficult to get mortgages for people now. This is said to come into effect by June 30. So there is going to be an income verification by a third party and also buyers who cannot provide a 5% down payment by themself will be eliminated from getting mortgage.