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New Mortgage Rules January 1, 2018

Matthew Jackson Mortgage Tips

There are some substantial changes arriving on January 1, 2018 that will make it more difficult for anyone looking to purchase or refinance their property with 20% or more down payment or equity. FICOM is implementing a rule change that make it so when anyone in Canada looking for financing at 20% and above equity would need to qualify under …

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Different Credit Scores and What They Fit For Mortgage Programs

Matthew Jackson Mortgage Tips

Credit is more important now than ever before. Equifax and Transunion recently changed how they calculate your credit score, with very good credit getting even higher and not so great going lower in most cases. I cannot explain exactly what they changed other than their formula for calculating, and that they put more emphasis on delinquencies and also positive factors …

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Buying A Rental Property

Matthew Jackson Mortgage Tips

I wanted to write about buying rental properties as it is getting more difficult each year to buy them. This will focus on clients who have less than 4 or 5 rental properties and are looking to obtain another investment property mortgage. To start, most banks will only allow you to own up to 4 or 5 rental properties plus …