Owning a Home in Ottawa just got more expensive by Dave Williams Starting May 1st, 2014 owning a home is going to cost you a little bit more if you […]
As a result of some recent analysis on property sales ( My 2012 roundup series) I noticed a sharp decline in income properties sales and a slide in average prices.
A chat with one mortgage broker revealed that the banks themselves have been tightening up their lending rules, or at least a few that she worked with.
What I’m hoping to do is collect some more experiences from Mortgage Brokers of how they have noticed the lending rules have/haven’t changes in the last 6 months in regards to income property lending.
Please weigh in below with your comments and experiences.
The other startling change is the proposal to count 100% of condo fees towards a buyers debt load, don’t get me wrong, it makes complete sense, it’s just that at this point in the game that moves a large segment of the first time home buyers out of the running.