Some good news for insured buyers!
Genworth Canada and Canada Guaranty announced they will maintain their credit score qualifications even though their competitor, Canada Mortgage and Housing Corporation (CMHC) announced they would be increasing the bar on lending standards, making it more difficult for some to borrow money for a home purchase.
This is great news for those who plan to purchase a home with less than 20% down and may have been impacted by the CMHC change.
Article by: Canadian Mortgage Trends
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