July 1, these CMHC changes will be in effect:
-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.
Dave Z
3 years, 10 months ago
July 1, these CMHC changes will be in effect:
-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.
Dave Z
3 years, 10 months ago
July 1, these CMHC changes will be in effect:
-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.
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Dave Z
3 years, 10 months ago
CMHC News Release
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Dave Z
3 years, 10 months ago
This stands out, "CMHC foresees a 9% to 18% decrease in house prices over the next 12 months."
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