LONGER AMORTIZATIONS

30-40 amortization available for both conventional financing with 20% down. High ratio financing with premium surcharge.

HIGHER DEBT SERVICING RATIO’S

44% TDS Many lenders are now adopting a new way of calculating the debt servicing on mortgage. In the past there were strict debt servicing ratios of 32% GDSR (Gross Debt Service Ratio) with a maximum of 40% TDSR (Total Debt Service Ratio). Many lenders have now eliminated the GDSR and have increased the TDSR to 44% which means that the client can use up to 44% of their gross income to qualify for a mortgage.

Together with the new debt servicing ratio’s a client can now offset suite income up to 80% of the rental income, regardless if the suite is legal or illegal.

NON RESIDENTS can now borrow up to 90% of the property purchase price.

EQUITY FINANCING FOR EMPLOYEES, SELF EMPLOYED AND COMMISSIONED SALES PEOPLE

75% equity financing for those clients with 25% or more down wanting to purchase their principal residence. No income confirmation required. This product is available for self employed, employees, and commissioned sales, who have a good net worth and excellent credit history.