Mortgage Intelligence

Oshawa's Mortgage News Desk!

Is this the last nail in the coffin?

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There has been a lot of chatter in the last few days, on regulations on qualifiying, that will be introduced on October 17, 2016. How does this affect our borrowers:

For example: a couple qualifying with combined family of income $75,000 and no debt.

At present – at a 5 year fixed rate of 2.5%, amortized over 25 years with a downpayment of 5% will qualify for a mortgage of $347,000.

After October 17 – at the benchmark rate of 4.64% will only qualify these borrowers for a mortgage of $280,000.

  • First time homebuyers will find it extremely difficult to qualify to purchase.
  • Rentals, investment properties & homes with value over $1 Million will become harder to qualify.
  • Ammortization over 25 years will be difficult to obtain.

More information on regulatory changes can be found on

More updates will follow as it all unfolds. Please contact the team at, if you have any questions or require clarification.


David Hetti is a full time Mortgage Broker with Mortgage Intelligence (FSCO Lic MO8002434) David is the Director of Operations at Mortgage Intelligence Oshawa and heads a team of full time licensed Mortgage Agents serving all of Ontario. David is also a licensed Insurance Consultant.

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