Back to Blog

Effective May 30, anyone who has an insured mortgage will no longer be able to act as a co-borrower on another mortgage that CMHC insures.

What does that mean? If you currently own a home and your down payment was less than 20% (CMHC Insured), then you cannot purchase or cosign on another property with less than 20% down.

Similarly, parents who have a mortgage that’s insured will no longer be able to act as a co-borrower for their children on an insured mortgage.

 

Globe and Mail News Article

 

Comments

No comments

Post Your Comment:

Search Listings Now!

Ready To Sell?

Insider Access