Mortgage Basics

You will have many options when it comes to choosing a mortgage. Your lender or broker will help you find the mortgage that best matches your needs. Become familiar with the following terms and options to help with your decisions. Amortization period: The length of time you agree to take to pay off your mortgage (usually 25 years).  Payment schedule: How …

Announcement from CMHC in Reference to Self-Employed Borrowers

Starting October 1, 2018,  it will be easier for the self-employed to qualify for a mortgage. CMHC just announced it’s giving lenders more guidance and flexibility to help self-employed borrowers. The move is designed to assist self-employed Canadians who may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing examples of factors …