Are you stressed about the new test?
Many potential first-time home buyers were taken aback when the finance minister introduced a new stress test, effective January 1, 2018. Many of these same people have been stressed ever since, wondering if they will ever be able to afford to buy in the GTA.
As a mortgage planner in the industry for over a decade, I have seen my fair share of regulation changes and tweaks, but this one has left many scratching their head and trying to figure out how to navigate through it. In my experience there are a few things that are not being discussed as regularly in the media.
Here are the top three:
Now is the time to have a specialized mortgage professional doing all the work and negotiation for you – many times at no cost. At TheRedPin Mortgage Brokerage, we are ready to navigate through this most recent change in the mortgage market and get you into your perfect home sooner.
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