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CMHC announces new rules to make it easier for homeowners to rent out property 

Mortgage, Property, Real Estate Information, rental property 

In this Financial Post article, Garry Marr discusses the impact of upcoming changes from Canada Mortgage and Housing Corp (CMHC) that will permit homeowners to count 100% of the income from their secondary units when qualifying for a loan.  Currently, homeowners with legal units can only count 50% of the income from legal rentals.  By making it easier to borrow money, Marr suggests CMHC will be bringing more people into the market, and that is expected to boost affordable housing, especially in hot markets like Vancouver where secondary units make up almost 20% of the city’s rental stock.  To read more click here. http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com//personal-finance/mortgages-real-estate/cmhc-announces-new-rules-to-make-it-easier-for-homeowners-to-rent-out-property  Buying a property with a rental unit is a great way to own a home while someone else helps pay your mortgage! Please contact us for info & available income properties. Source: Blog 

Businessman Notepad Property Value Concept

In this Financial Post article, Garry Marr discusses the impact of upcoming changes from Canada Mortgage and Housing Corp (CMHC) that will permit homeowners to count 100% of the income from their secondary units when qualifying for a loan.  Currently, homeowners with legal units can only count 50% of the income from legal rentals.  By making it easier to borrow money, Marr suggests CMHC will be bringing more people into the market, and that is expected to boost affordable housing, especially in hot markets like Vancouver where secondary units make up almost 20% of the city’s rental stock.  To read more click here. http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com//personal-finance/mortgages-real-estate/cmhc-announces-new-rules-to-make-it-easier-for-homeowners-to-rent-out-property

 Buying a property with a rental unit is a great way to own a home while someone else helps pay your mortgage! Please contact us for info & available income properties.

Source: Blog

 

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