It’s January 2018, prospective homebuyers, and you know what that means: The new mortgage stress test is in play. But what you may not know is how much it’s going to impact your homebuying budget. Nor would you be alone: A new study from ReMax estimates that 37 per cent of Canadians aren’t aware of how the changes will
Crazy high prices are no longer the only thing keeping prospective buyers in B.C. from jumping into the real estate market or trading up for bigger or better pads. As of Monday, all borrowers will need to pass a stress test before they are allowed to take out mortgages from federally regulated institutions such as
Having a plan is important. I find far too often that people seeking mortgage financing are unaware how their other debts affect the amount of mortgage financing they can qualify for. What does a lender look at when determining if you qualify for a mortgage? Typically, a lender wants to see the last two years
