by Rylan Hahn | Feb 3, 2017 | First Time Buyers, Mortgage Advice
On January 17 CMHC announced that they are increasing insurance premiums (the fees that are added to mortgage for clients purchasing with less than 20%) by between 36% and 10%. For clients with 15% down payment the premium is increasing by 36%, for 10% down payment,...
by Rylan Hahn | Apr 30, 2014 | Uncategorized
On Friday May 24 the Government of Canada via CMHC announced that they were taking steps that could dramatically affect the ability of Canadians to purchase a new home in Canada. They did this by announcing that they are discontinuing the CMHC second home mortgage...
by Rylan Hahn | Mar 11, 2014 | First Time Buyers, Mortgage Advice
CMHC insurance premiums are increasing effective May 1, 2014 For almost every purchase in Canada where clients are putting down less than 20% down payment, your mortgage is insured against default by on of the mortgage insurers in Canada, either CMHC, Genworth, or...
by Rylan Hahn | Aug 13, 2013 | First Time Buyers, Mortgage Advice
The Department of Finance and CMHC recently announced that they were enforcing their CMHC limits on Canadian Lenders. First, a little bit of the back story on CMHC limits: Every January, the government of Canada and CMHC set a maximum amount of mortgage volume that...
by Rylan Hahn | Jul 10, 2013 | First Time Buyers, Mortgage Advice
CMHC changes have occurred again – and its not good news for you On June 27 CMHC changes were announced that affect the Canadian mortgage lending rules and were primarily designed to make is more difficult for clients to qualify for their new home purchase....