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More mortgage rules are coming in 2025, and it is NOT good
Manage episode 409707165 series 3514264
Jessi Johnson에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Jessi Johnson 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Yes, you heard that right. Our federal government is added again and wants to make it harder to qualify for a mortgage starting in 2025.
If it's not hard enough already, I am disheartened to say that it's about to get harder
The new rule, set to take effect in the first quarter of 2025, limits the amount of mortgage a bank can issue to a maximum 4.5 times a borrower's annual income
The loan-to-income (LTI) ratio compares the size of the homebuyer's mortgage to their gross income.
You can thank OSFI for this, aka Office of the Superintendent of Financial Institutions
How is that going to affect you?
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