% M! s, L5 v+ O) h- @( I/ b: |of course, it is almost the biggest purchase in people's whole life, it is not impulse purchase. Some broker must have the integrity.
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Not on a 10% down payment mortgage. If 35% or more, that is a different story.8 d7 P- @ x8 F# e) z
7 C% s: |) l0 F9 Q4% vs. 2.59% for 5 year qualifying on 25 year amortization, his income has to increase 54% to qualify on the same note 4/2.59 = 1.5444 Will that make sense. Small credit union also need to observe the rule of lending, either CMHC, Genworth or CG.