Edmontonian18 发表于 2015-6-2 17:07 2 y. j2 m6 A# U9 M, `- ?! ]' xa very challenging, yet straight forward, down to earth question...
. p9 C6 ?4 W2 s$ Wof 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.3 G1 {* J) Y/ h1 E- e9 @6 n
3 I. P! g, H2 ] [0 u4% 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.