Lenders can decide whether or not to approve a home loan application based on the borrower’s income. It says a lot about your ability to pay back the mortgage; the higher your income, the larger your ability to pay back …
CMHC Insurance or Mortgage default insurance is mandatory in Canada for a down payment between 5% to 19.99%; All such mortgages known as High Ratio mortgages. The insurance calculated as a percentage applied to the …