Channie Tay, Residential & Commercial Mortgages

Breaking news from CMHC that would have an impact on the borrowers with less than 20% downpayment. What does this mean? 1) Minimum credit score of 680 for at least one borrower. 2) Debt to income ratio reduced to 35/42 from 39/44 (ie. same income but afford less mortgage. 3) Downpayment cannot be borrowed.... https://ca.finance.yahoo.com//real-estate-canada-mortage-r

Happy Mother’s Day!

Self assessment for EI & CERB. Summary of Cash flow supplement for BC (English):https://covid-19resourcesbc.weebly.com/ https://restobox.com//%e3%80%90%e6%87%b6%e4%ba%ba%e5%8c%8/... Thanks to my brokerage for sharing this. Thanks to Leo Poon from RestoBox for Chinese Version.

This is an interview with one of the insurer to clarify what mortgage deferral is. please remember the lenders need to qualify who needs support - this isn’t a guarantee. It’s based on NEED. The news is making it sound like a free for all unfortunately.