Changes to CMHC Underwriting Criteria for Homeownership coming July 01, 2020

Tuesday Jun 9th, 2020


  CMHC Reviews Underwriting Criteria Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to our standard requirements of 35/42; Establish minimum credit score of 680 for at least one borrower; and Non-traditional sources of down payment that increase indebtedness will no longer be treated as equity for insurance purposes. To further manage... [read more]


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