The new mortgage QUALIFYING RATE for all high ratio mortgages (high ratio meaning less than 20% down) must now qualify at the Bank of Canada rate of 4.64% even with a fixed mortgage rate. This change becomes effective as of October 17th 2016. Any purchases approved prior to this date will not be affected by this change.
Thank you, Mortgage Man – Dominion Lending Centres – Top Mortgage Broker in Orillia
Mark Goode AMP / MarkGoode.ca / 705-326-8523 / 1-866-326-8523 / 180 Memorial Avenue Orillia, ON
All credits and copyrights to their respectful owners – Mortgage Man Team – MMDLC