Hey everyone! This is a quick post with regards to the CMHC rule changes for July 2020. This will effect those obtaining an insured mortgage (under 20% down payment) after July 1. If you need to ensure this rule does not prevent you from purchasing your next home give me a call or reach out to Kris Crawford with Innovative Mortgage Solutions.
The other big mortgage insurance company, Genworth, is not changing their rules. When shopping for a home it is always best to talk to you bank and talk to a mortgage broker. Get the right advice and ensure the best deal possible!
Lots of great opportunity out there to find the perfect property! Any questions let me know! Check out my dream home finder – good place to start.
