Farzam Sharifpour
2339 hwy 97 V1X4H9 Kelowna, BC, Canada

Will getting a mortgage approval be tougher in 2018? Starting Jan 2018, new regulations will make it tougher for Canadians to qualify for uninsured mortgages, effecting cosumers with downpayments of 20% or more. Canada's banking regulator, the Office of the Superintendent of Financial Instituions, is aiming to rein in risky borrower practices by requiring buyers who make down payments of more than 20% (who do not need mortgage insurance) to prove they could still afford mortg...ages if interest rates were 2% points higher than the rate they negotiated. If you get a FULL approval with a lender before January you can still be eligible under the current guidlines. Currently uninsured borrowers can qualify for a mortgage rate around 3.3% on a 5-year fixed. After January 1st 2018, that hurdle will jump to almost 5% (even if you put down 20%). This change will reduce everyone's borrowing capacity to some extent and your buying power will get effected. It will curtail how much Canadians can spend on home purchases. For an questions please contact me at : Phone: 250 863 1078 Email: [email protected]

Dear friends and family, I am more than excited to announce that as of this week I will be entering into my new role as a Mobile Mortgage Specialist for TD Canada Trust! If you are purchasing a home, transfering mortgage, consolidating debt, or have any questions regarding residential lending, I am here to help you find the best solution. ... Please contact me at: Tel: (250) 863 1078 Email: [email protected] Looking forward talking to you guys!