Category Archives: Mortgage News & Events

Have you considered purchasing a property with secondary suite?

The Canadian Mortgage and Housing Corporation (CMHC) recently announced that in order to facilitate affordable housing choices for Canadians, it would be making some policy revisions on how they consider income derived from secondary suites.  Considering the last 4 years have been nothing but tightening of rules, making it harder for Canadians to secure mortgage…
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CMHC is showing some love for basement apartments.

The Canada Mortgage and Housing Corp. has changed some rules that will allow homeowners to include 100% of their rental income when calculating their debt service ratios. This is a very interesting shift in policy, so let's go through the basic points. Let's say you want to buy a house, but can't scratch together more…
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A Third of first-time home buyers prefer long amortizations.

More than one-third of first-time home buyers say they would take a longer amortization period on their mortgage if they could, according to a Google Survey that was done for The Globe and Mail. Long amortizations are controversial. There was a period around 2006 when Canadians were able to obtain 40-year mortgages that were covered…
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