Emina Kozlica, Mortgage Broker, Quantus Mortgage Solutions
235, 6025 12 St SE T2H2K1 Calgary, AB, Canada

CMHC ANNOUNCEMENT - Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: *Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to our standard requirements of 35/42; *Establish minimum credit score of 680 for at least one borrower; and... *Non-traditional sources of down payment that increase indebtedness will no longer be treated as equity for insurance purposes. https://www.cmhc-schl.gc.ca//cmhc-reviews-underwriting-cri

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|| UPDATED: April 7, 2020 || COVID-19 Mortgage Payment Relief: What’s Available to You There is some good news in this very stressful time for people who are w...orried about making their mortgage payments. Canadian mortgage insurers are backing the current crisis and are working with our lenders to develop policies to either skip or defer mortgage payments. However, it’s important to know that these are on a case-by-case basis so please, reach out to your lenders directly. You also may not receive an answer right away. As each case is different, it may take 3-5 business days for a response. Lender Contact Information: Alterna Savings Credit Union: 1-877-560-0100 ATB Financial: 1-800-332-8383 B2B Bank: 1-800-263-8349 or [email protected] BlueShore Financial: 1-604-982-8000 or 1-888-713-6728 BMO Financial Group: 1-877-788-1923 Bridgewater Bank: 1-866-243-4301 or [email protected] CIBC: 1-877-456-2422 CMLS Financial: 1-888-995-2657 or [email protected] Coast Capital Savings: 1-888-517-7000 Community Trust: 1-800-268-1576 Canadian Western Bank Optimum Mortgage: 1-866-441-3775 or [email protected] Desjardins Credit Union: 1-855-688-2433 DUCA Financial Services Credit Union Ltd.: 1-866-900-3822 Envision Financial: 1-888-597-1083 Equitable Bank: 1-866-334-3313 or [email protected] Connect First Credit Union: 1-403-520-8000 Chinook Financial: 1-403-934-3358 First Calgary Financial: 1-403-736-4000 FirstOntario Credit Union: 1-800-616-8878 First National Financial LP: 1-866-557-5509 or [email protected] Haventree Bank: 1-855-272-0051 or [email protected] HomeEquity Bank: 1-866-331-2447 or [email protected] Home Trust Company: 1-855-270-3630 or [email protected] HSBC: 1-888-310-4722 IC Savings: 1-416-253-4007 ICICI Bank: 1-888-424-2422 or [email protected] Industrielle-Alliance: 1-800-463-4396 Lendwise: 1-877-637-7881 Manulife: 1-877-765-2265 or [email protected] MCAP: 1-800-265-2624 or [email protected] Meridian Credit Union: 1-866-592-2226 MERIX Financial: 1-877-637-7881 or [email protected] Marathon: 1-855-503-6060 or [email protected] National Bank: 1-877-281-0144 Prospera Credit Union: 1-888-440-4480 RBC: 1-800-809-5800 RFA: (formerly Street Capital) [email protected] If your mortgage begins with 4: 1-866-939-5005 If your mortgage begins with 6: 1-877-776-6888 If your mortgage begins with 7, 8 or 9: 1-833-228-5697 RMG: 1-866-809-5800 or [email protected] Scotiabank: 1-800-472-6842 Servus Credit Union: 1-877-378-8728 TD: 1-888-720-0075 Vancity: 1-604-877-7000 Verico Canada Lifestyle: 1-855-805-7107 XMC: 1-877-775-2970 What you need to know: Phone lines are currently very busy, so expect to wait at least 30 minutes to 1 hour for a representative. As always, reach out to your broker to talk about what other financial options might be available to you right now. We’re here to help you navigate the next few months.

For the next few weeks, we're all having to adapt to new work and school schedules. But for some people, these changes may be significantly impacting monthly budgets. To provide some assistance, certain lenders are implementing policies that will allow their clients to skip a mortgage payment or defer the payment for a specified period of time. Many of these lenders are allowing their clients to make these options without paying applicable fees or impacting credit ratings. Call me if you need help

Breaking news: Bank of Canada cut the rate by another 50 basis points. https://www.cbc.ca/amp/1.5497098