BIG Mortgage Qualifications Coming in Canada
What this means for homebuyers: If you're putting less than 20% down & you've been pre-approved by your mortgage lender, if you don't purchase a property by Oct 17, you may no longer qualify for the same purchase price. You will have to re-qualify at the Bank of Canada Benchmark rate, which could potentially force you into a lower priced home.
For full details, visit this Financial Post article here: http://bit.ly/2drdjYD
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