Mortgages has become harder to obtain – how to find alternatives to the rules It’s a lot harder to get the feds to back your mortgage than it was a few months ago. Effective July 1st, 2020, the Canada Mortgage and Housing Corporation (CMHC) has reduced borrowing limits, demanded higher credit scores, […]
credit score
CMHC tightens lending standards to protect housing market during COVID-19
CMHC tightens lending standards to protect housing market during COVID-19 Canadians looking to borrow money for a home purchase a home in for some extra challenges after the Canada Mortgage and Housing Corporation announced changes to its lending standards on Thursday. The country’s national housing agency is increasing the qualifying credit score for […]
Buying a home – Buyer’s guide
Buying a home – Buyer’s guide 1. Start with your credit. Credit reports are kept by the three major credit agencies, Experian, Equifax, and TransUnion. They show whether you are habitually late with payments and whether you have run into serious credit problems in the past. A credit score is a number calculated […]
