Treat Canadians like the responsible homeowners they are

New mortgage rules put in place by the federal government to cool the housing market may be unnecessarily hurting homebuyers who are more responsible than some regulators believe. North East Mortgages president Terry Kilakos said the rules around stress testing buyers are unnecessary because Canadian home-buyers aren’t over-leveraged and historically don’t go back on their…

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Income The Misunderstood Element

In our evolving explanation of the elements required to secure a mortgage, we come to one of the most misunderstood elements in the group. Income can be derived from various sources. Because of that reason banks will treat different sources of income differently. To understand this we must first understand what happens behind the scenes when a…

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