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The Canada Mortgage and Housing Corporation made changes to its lending standards which went into effect yesterday. The organization will no longer treat non-traditional sources of down payment as equity. Would-be homebuyers' qualifying credit scores must also now be at least 680, up from the previous 600. Local Mortgage Broker with Invis Brenda Colman joins me to talk about the changes.
By Jeff AndreasThe Canada Mortgage and Housing Corporation made changes to its lending standards which went into effect yesterday. The organization will no longer treat non-traditional sources of down payment as equity. Would-be homebuyers' qualifying credit scores must also now be at least 680, up from the previous 600. Local Mortgage Broker with Invis Brenda Colman joins me to talk about the changes.