Lisa Klee Mortgage Architects
#520-45715 Hocking Ave V2P 6Z6 Chilliwack, BC, Canada

Delivery days are always so fun! To see the look on the faces of our clients in their new home is so rewarding! We are thankful every day for our many blessings!

The market it hot and we are pre approving, submitting and approval masters, but we still make sure we stop, look around, be thankful and take some time with our family as this is how we stay strong for our clients! Call us today as one of us are always available! 604-799-6627

A big thank you to all our amazing clients and lenders! We are so thankful for all the kindness we experience from you daily!

GOOD NEWS!! Genworth who is also a mortgage insurer in Canada announced today they are not changing their underwriting guidelines alongside CMHC. We continue to communicate with lenders and partners on a daily basis so we are up to date on all options and solutions. We are so thankful for our 17+ years of experience in the industry so we can roll with changes and still be able to help our clients achieve their goals. Give us a call 604-799-6627

Some important changes were announced yesterday from CMHC effective July 1st 2020. This applies to all clients who do not have a 20% down payment. 1)To qualify for CMHC insurance, the minimum credit score used to be 600 but now at least one borrower will need to have a credit score of 680. 2)Borrowers used to be able to use 44% of their income to go towards their total debt payments (total debt service ratio) but now this has dropped to 42%. 3)Gross Debt Service Ratio (mont...hly housing payments divided by gross monthly income) is now 35% down from 39%. 4) No more borrowed down payments (This is unrelated to gifted down payment) These changes result in client’s being able to borrow approx 12% less. If you are on the fence about buying please give us a call to see how this change will impact your situation. We are always available to help! 604-799-6627 https://www.cmhc-schl.gc.ca//cmhc-reviews-underwriting-cri

We have been having virtual meetings with clients on a daily basis. Helping with deferrals, refinances, renewals and purchases. With the current global pandemic, it is very important to start the process early in all situations. We are here to help and have access to hundreds of lenders to make sure we find the best solutions and terms for our clients! Give us a call today! 604-799-6627