While the change may seem daunting, buyers still have ways to shape up in the eyes of the CMHC — or dodge the agency entirely.
How to get around Canada’s harsh new mortgage rules
The Canadian Mortgage and Housing Corporation, or CMHC, announced plans in early June to reduce borrowing limits, demand higher credit scores and restrict down payments for anyone who needs default insurance from the agency. That kind of insurance is mandatory for “high-ratio” buyers putting les…
