CMHC Mortgage Insurance to allow 100% of suite income

As of September 28, of this year, CMHC mortgage insurance underwriters will be allowing up to 100% of the income that is generated from a secondary suite to be included in the qualification process (for anyone applying for a mortgage using CMHC insurance.) Previously, most mortgage insurance companies were allowing only 50% of the income from a secondary suite.

Check out the website at   http://www.cmhc.ca/en/hoficlincl/moloin/rean/rean_057.cfm

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Doug Sunray

Doug Sunray

REALTORĀ®
CENTURY 21 Queenswood Realty Ltd.
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