Lisa Kopchuk, Mortgage Associate
310 Main Street North Moose Jaw, SK, Canada

In Canada, when a person is purchasing a home with less than 20% down payment, mortgage default insurance is required. This is issued by one of three default insurance providers; Genworth, Canada Guarantee and CMHC. Before a lender or bank can approve your mortgage, it must first be approved by one of these providers. Today, CMHC announced changes to lending criteria. - minimum beacon score 680 for at least one borrower... - reduction in GDS (gross debt servicing) and TDS (total debt servicing) from a maximum of 39/44 to 35/44. Lowering purchasing power - removal of the Flex Down program where a home buyer could borrow the down payment Note that these changes commence on the 1st of July. While CMHC has committed to these changes, neither Genworth nor Canada Guarantee has followed suit as yet. If you aren't sure if this will affect you, feel free to reach out. Get pre-approved today

The Mortgage Stress Test has eased up a bit as of May 25th. The Bank of Canada qualifying rate DROPPED to 4.94% allowing home buyers to qualify for more! #lisakopchukmortgages #moosejawmortgagebroker #moosejawmortgage #saskatchewanmortgage #saskatchewanmortgagebroker #lowmortgagerates

To all the mom's I see you You are appreciated #happymothersday #moosejawmortgagebroker

This stunning piece of work is the Deer Antler Pen my incredible husband made for me! I'm obsessed! #ddwoodcrafting #myhubbyisbetterthanyours #deerantlerpen #elegant

Here's a cute place I could arrange a mortgage for!