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Tag Archives: Rental Income
Suite Income: New CMHC Rule Allows 100% of Rental Income for Mortgage Qualification
September 28, 2015 is the date that Canada Mortgage and Housing Corporation (CMHC) will start allowing 100% of rental incomes from legal secondary suites to be used when qualifying for a mortgage. Currently CMHC allows 50%. The move is meant … Continue reading
The Tightening of Debt Ratio Standards
…and you thought December was traditionally the month we celebrate with food, frolic and frothy frappuccinos. Well, not this year! This year, on December 31, CMHC will tighten our belts for us by minimizing loopholes, clarifying and implementing the new … Continue reading