CMHC Restrictions
Effective April 9, CMHC is adding more restrictions to its Self-Employed stated income product. Self-employed borrowers who choose to apply under this program, and not verify their income using traditional means, will have to put down 10% when purchasing a home (instead of 5% today). Stated income applicants who wish t…o refinance will be limited to 85% loan-to-value (instead of 90% today).
Category: Real Estate
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