By: Jay Rana

CMHC Announces Changes to Policy for Insured Mortgages June 8 2020 - Jay Rana

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The Canada Mortgage and Housing Corporation (CMHC) is tightening its rules to qualify for an insured mortgage. CMHC has announced that effective July 1, 2020, new applications for homeowner transactional and portfolio mortgage insurance would be subject to the following changes: Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to 35% and 42%, respectively; A minimum credit score of 680...Read More

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