New Mortgage Qualifications for CMHC Insured Mortgages-Effective July 1st
- Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to our standard requirements of 35/42;
- Establish minimum credit score of 680 for at least one borrower; and
- CMHC will no longer treat non-traditional sources of down payment funding, such as a personal unsecured line of credit, as equity for insurance purposes. ...