Using a reverse mortgage as an exit strategy
Qualifying for a mortgage in Canada is no easy feat. In fact, over half of Canadians see it as a barrier to homeownership. On July 1, the Canadian Mortgage and Housing Corporation (CMHC) rolled out their new underwriting guidelines with three changes, including an increase to the minimum credit score required for insured mortgage, from 600 to 680.
Original Article Source Credits: Mortgage Broker News , https://www.mortgagebrokernews.ca/
Article Written By : Kasi Johnston
Original Article Posted on : 17 Jul 2020
Link to Original Article: https://www.mortgagebrokernews.ca/news/using-a-reverse-mortgage-as-an-exit-strategy-331210.aspx