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Alberta
Garth Lyon Senior Mortgage Professional

Garth Lyon

Senior Mortgage Professional


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Address:
103, 901-8 Avenue, Canmore, Alberta

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Department of Finance Announces New Qualifying Rate for Insured Stress Test

2/21/2020

THINK OUTSIDE THE BOX: The change, which will take effect April 6, 2020, means borrowers with insured mortgages (typically those with less than 20% equity) will need to prove they can afford monthly mortgage payments based on a rate equal to the weekly median 5-year fixed insured mortgage rate plus 2%.  Click here to read article.

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