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New Mortgage Rules + Big Picture Thinking

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0 comments on “New Mortgage Rules + Big Picture Thinking”

  1. Great post Tom! Not sure if lenders under the new rules, being forced to approve you at the higher posted rate means you can't still get a mortgage at lower than posted rates. Are they just crunching the numbers (as a worst case scenario) to lower their risk of you defaulting should there be a rate hike down the road or does this essentially mean if you want to invest in real-estate you need to put up 20% DP and expect the best rate you can negotiate from a lender will be their posted rate?

    Thanks,
    /Tom

    1. I should have been more clear, yes, it's for qualifying purposes only.

      The rate you actually get on the mortgage is the lower discounted rate. Thanks for asking that Tom, appreciate it!

      - Tom

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