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Following the announcement that the government is now regulating some aspects of Mortgage borrowing, CMHC made more severe tightening announcements that will affect all Self-Employed and Commissioned Salespersons.
Self-Employed lending is the newest area of severe tightening along with further restrictions for borrowers who want Variable Rate Mortgages. See the full details below on how it will affect many homebuyers capacity to buy the home they had hoped for.