Today, the federal government announced three key announcements designed to unlock underused properties and make it easier for homeowners to add secondary suites to their homes. 1. Mortgage Refinancing for Secondary Suites: Beginning on January 15, 2025, homeowners will have the opportunity to refinance their insured mortgages to finance the construction of secondary suites. A […]

Canada Mortgage and Housing Corporation (CMHC) announced yesterday, June 4th, they will be implementing new changes to their lending policies that will take effect July 1, 2020. Below are some of the updates I’ve collected so far… Limiting Gross Debt Service (GDS) ratios to 35% (from 39%) Limiting Total Debt Service (TDS) ratios to 42% […]