Mortgage Oakville

How This New Mortgage Rule Could Affect You

On July 1, 2020, Canada Mortgage Housing Corporation (CMHC) increased it’s minimum required beacon scores for applicants from six hundred to six hundred and eighty. However, co-applicants now have no minimum beacon score. Moreover, the corporation has decreased its maximum GDS/TDS ratios to 35/42, respectively. CMHC made this change to prevent a housing bubble as […]

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