217 | Short Clip from Jeff Reitzel about new CMHC Mortgage Rules starting July 1st, 2020 🇨🇦

The Reitzel Brothers Podcast

Here’s an overview of the recent changes. CMHC (Canada Mortgage and Housing Corporation) announced that effective July 1, 2020, new applications for homeowner transactional and portfolio mortgage insurance would be subject to the following changes: * limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to 35% and 42%, respectively; * a minimum credit score of 680 for at least one borrower; and * non-traditional sources of down payment that increase indebtedness will no longer be treated as equity for insurance purposes. Any questions on this let us know! Enjoy! About Kurtis and Matt: Kurtis and Matt are both Real Estate Investors and active Realtors servicing the Tri-City Region in Ontario, Canada. They have a passion for working closely with investors to build and preserve massive wealth in real estate. Co-Founders of the Tri-City Real Estate Investor Club Find us on our Facebook Investor Group and Meetup.com: https://www.facebook.com/groups/2756352651059293/?ref=share https://www.meetup.com/Tri-City-Real-Estate-Investor-Club/ YOUTUBE channel here: The Reitzel Brothers *GO SUBSCRIBE!* :) https://www.youtube.com/channel/UCLL7rUND51bBJtMwwjCKbxQ Instagram https://www.instagram.com/matt.reitzel/ https://www.instagram.com/kurtisreitzel/ Email [email protected] [email protected] Cell phone number Kurtis - 226-406-3429 Matt 519-998-1148