Mortgage Logic

First-time Buyers

Good News, CMHC Competitors Decide Not to Tighten Rules, Maintain Home Shopping Affordability

In a news releases today Genworth Canada and Canada Guaranty have both confirmed that they will not follow suit with Canada’s main mortgage insurer, CMHC, in tightening lending guidelines for mortgages. Genworth MI Canada Inc. (TSX: MIC) said: “it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit …

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Mortgage Broker Gets Standing Ovation

Denise Deveau, Postmedia News Cheryl Hutton and Aaron Coates relax in their new home in Calgary. The first-time homebuyers never thought they would qualify for a mortgage.  Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close …

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