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

Tuesday Jun 9th, 2020

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  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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Jennifer Foley

Jennifer Foley

Real Estate Broker

RE/MAX Rouge River Realty Ltd. Brokerage

I'm a Trusted Advisor, focused on delivery & value, before, during & after the transaction.

2377 Durham Regional Hwy 2 Unit 220, Bowmanville, Ontario, L1C 5A3

jenn@jenniferfoley.ca

(289) 460-2564
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