Below you'll find a list of all posts that have been tagged as “FICOM”
It’s been a week since the new rule changes have taken effect and it seems the biggest concern for Canadians revolves around the new qualifying requirements for new insured mortgages (less than 20% down payment). Borrowers will have to qualify based on the Bank of Canada posted 5 year rate which is currently 4.64%. This means that most borrowers will …
Below are the highlights of all the new rules and regulations. There will be some more items to come in the next few weeks. I will keep you posted. But do call or email with any questions. Summary of Changes for High Ratio Deals above 80% LTV: All high ratio (less than 80%LTV) deals submitted will be subject to the new …