Brokers
Canada Child Benefit to Counter new Mortgage Stress Test

The changes announced by the Finance Minister were put in place to ensure that home buyers can afford to hang onto their home if interest rates are higher when their mortgage matures down the road. While I feel they went a little to far on this test, it is not entirely a bad idea. Regardless of what i think, this is the new mortgage reality.
I do have an option that will counter some of the changes in qualifying for some applicants that none of the big banks and maybe some other brokers do not have access to.
For families receiving the new, and in many cases increased, Canada Child Benefit income, I have lenders who will use this toward qualifying for a home for some ages of children.
If a family has an $800 child benefit, this should fully counter the recent rule changes in many cases.
So if you are or know a young family who will be restricted by these changes, you would be doing them a huge service to get them in for a talk with me. My services are free and i will never be pushy. I am glad to just answer some questions.

Hope to talk with you soon!
Scott
306-220-1917
scott@isaskmortgage.ca

October 21, 2016