Getting a Mortgage while paying Spousal Support

Spousal Support (alimony) payments can be a major complication when trying to qualify for a mortgage, and it becomes increasingly difficult with the addition of other monthly liability payments such as credit card or vehicle loans. Fortunately, special programs are available to help you finance your home while still meeting your obligations. The example below explains[…]

Mortgage Qualification Rate Change FAQ

MORTGAGE QUALIFICATION CHANGES New housing policies are coming into effect and leaving many Canadians unclear about how their finances have been affected. This FAQ article will focus primarily on Low Ratio Mortgage Loans – mortgages with 20% or more equity or down payment (Click here for High Ratio article). Here’s what you’ll learn: Review of Regulations Prior to[…]

High Ratio Change for Canadian Borrowers

Change is in the Air October 2016 is set to see more change than just the colours and temperature of the fall season; new mortgage rules will change the entire landscape for high ratio borrowers, reducing their buying power by approximately 20%. The tree of homeownership has been shaken, and the remaining leaves are harder[…]