Great news for investors

CMHC has announced that as of September 30th, of this year, they will take into account up to 100% of the rental income on an investment property that they insure. This is a significant increase from what they insured previously. There are still some qualification to this. They will be looking for verification of the income over the last 2 years. You as the borrower still must have a credit score of over 680. As CAP rates have been falling over the last number of years, there are fewer and fewer properties that would cash flow under the old rules. This will give you more options to finding a good investment property. For more on this please do not hesitate to contact me.

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Mike Andrews

Mike Andrews

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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