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Who Is An Income-Qualified Borrower?

Who Is An Income-Qualified Borrower?

WHO IS AN INCOME-QUALIFIED BORROWER? An income-qualified borrower is someone with sufficient employment income to service their mortgage.  The most important question for the lender is, “how will they repay this mortgage?” There are several ways a borrower...
What Is The B-20 Stress-Test?

What Is The B-20 Stress-Test?

Do You Understand the B-20 Stress Test? A recent survey shed light on the lack of knowledge surrounding the B-20 Stress Test.  The B-20 Stress Test has been in place for more than a year.  Surprisingly, 43% of Canadians are not confident they fully understand the...
Verifying Your Down Payment Source

Verifying Your Down Payment Source

Verifying Your Down Payment Source In recent months, money laundering has become a hotly debated topic.  Investigators have been bringing to light vast sums of money from criminal activities used to purchase real estate.  Focusing on British Columbia alone, estimates...