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CMHC making changes to allow self-employed to qualify for a mortgage

Great news for Canadian entrepreneurs

Canada Mortgage and Housing Corporation is making changes to facilitate self-employed Canadians with obtaining a mortgage. The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers.

CMHC chief commercial officer Romy Bowers stated:
“These policy changes respond to that reality by making it easier for self-employed borrowers to obtain CMHC mortgage loan insurance and benefit from competitive interest rates,” Bowers said in as statement.
The new rules will come into effect October 1st, 2018.
Below is a link to the full article from the Financial Post.

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Financial Post Article

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