Solution

While CMHC has been cutting programs and announcing that it will insure less mortgages in 2014, private insurers and lenders have stepped up to fill the gap. Stated income through Genworth and Canada Guaranty remain intact and, this week, lender Home Trust, has announced an uninsured product called their "90% Solution" allowing borrowers to buy a home with as little as 10% down without the use of insurance. The market remains very hot and, first time home buyers are helping to relieve some of the pressure by buying condos and town homes. The increase in markets activities is usual for this time of year and should remain strong through the summer. Sellers should consider getting listed sooner than later as many families wish to secure homes for summer moves. If you are looking for advise about a new or current mortgage, please call me today!