Tighter Guidelines for Qualifying
June 28th, 2012
Tighter guidelines for qualifying:
Canada's mortgage insurance
rules. Four measures were announced:
1. Amortizations reduced to 25 years
2. Refinancing limited to 80%
3. Properties purchased at over $1 million no longer eligible for mortgage
insurance
4. GDS and TDS set at 39% and 44%
CAAMP believes that Canadians understand the importance of paying
down their mortgages ...
