About 1 in 6 working Canadians are self-employed and, in recent years, the self-employed mortgage qualifying rule book has changed considerably. These evolving rules have created significant challenges for those seeking mortgage financing, and the property you can qualify for might not be what you expected....

Last month in my blog, I talked about new Canadian Government rules coming into effect and how they might impact the mortgage lending landscape.  Besides explaining the new mortgagequalifying stress test, I touched on CMHC’s (Canadian Mortgage and Housing Corporation) soon-to-be-gone role as a provider of “bulk” or “low-ratio” mortgage insurance to the mortgage lending industry, and how it provided stability and promoted competition. As of Nov 30^th, 2016 CMHC officially no longer provides that and certain other services, hence many mortgage lenders who had previously relied on these categories of mortgage insurance to manage their lending operations have been forced – over the last 30 days – to dramatically scale back their offerings.

Last updated: May 2019

One of the things I like about being a mortgage broker is a real opportunity to help people out when life throws them a curve ball. Recently my phone rang from a self-employed mortgage holder, a couple trying to get some options as they had fallen behind on their mortgage payments, not to mention numerous other credit cards and, bills.

What the heck is Super-Priority and why should I care?  If you want to get a mortgage and income tax isn't you favourite topic, time to learn.