Dave Fullerton, Mortgage Professional
Dave Fullerton, Mortgage ProfessionalThursday, February 20th, 2020 at 4:14am
The Stress Test is Changing!

The federal government and a federal banking regulator are planning to tweak mortgage stress tests in time for the busy spring home-buying season, a move that could make it easier for would-be owners to get a loan and add fuel to Canada’s housing market. ~ National Post, February 18, 2020

6 Things You Probably Didn’t Know, and 1 Is History

1. The change applies to insured mortgages only (a.k.a. Homeowner pays CMHC insurance premium)
2. Amortization remains unchanged at 25 years
3. Increase in purchasing power has increased by 2% or $15,000
4. The change does not apply to homebuyer with 20% down payment
5. The change only applies to a high-ratio, insured purchase
6. The federal government will calculate the Qualifying Rate based on the weekly median, insured contract rate + 2% (BTW - no one has ever heard of the weekly median, insured contract rate until two days ago)

I quote former President Regan: “...the nine most terrifying words in the English language are - I’m from the government and I’m here to help”
Dave Fullerton, Mortgage Professional
Dave Fullerton, Mortgage ProfessionalMonday, February 17th, 2020 at 6:15pm
Happy Family Day!

http://bit.ly/2UUXYp7
Dave Fullerton, Mortgage Professional
Dave Fullerton, Mortgage ProfessionalSaturday, January 11th, 2020 at 11:34pm
It’s a good time to prepare and make sure you’re ready to handle the arctic air and snow, Get that salt or sand for your home, and be sure to keep your sidewalks clear.

Stay warm out there!
.
.
.
.
.
#snow #winter#mortgagespecialist #mortgagebroker #mortgagelife #mortgages #finance #britishcolumbia #vancouver #surrey #langley #abbotsford #northvancouver

http://bit.ly/2R5H2sk
Dave Fullerton, Mortgage Professional
Dave Fullerton, Mortgage ProfessionalFriday, January 3rd, 2020 at 9:34pm
As we move closer to 2020, those involved with the real estate industry and the million-plus Canadian households who are likely to buy or sell a residential property in the next year are wondering whether things will continue to improve in the year ahead, or if there is more trouble in store.
.
.
.
.
.
#mortgagespecialist #mortgagebroker #mortgagelife #mortgages #finance #britishcolumbia #vancouver #surrey #langley #abbotsford #northvancouver

http://bit.ly/39Euxwb
Dave Fullerton, Mortgage Professional