Ask David

Private mortgage, Renting out a townhouse

Dear David, We don’t qualify to purchase as much as we did a year ago. Should we look at a private mortgage? – LOOKING FOR OPTIONS DEAR OPTIONS: There are a number of mortgage alternatives, including A-type lenders (major banks), B-type lenders (major Canadian institutions, which may be less stringent in their rules) and private

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man graffitiing wall
Ask David

New Mortgage Qualifications, Dealing with Graffiti

Dear David, I’ve heard rumours the past few weeks about a new and tougher “stress test” for those taking out a mortgage next year. What’s going on? – Nervous Buyer DEAR NERVOUS: The Office of the Superintendent of Financial Institutions (OSFI) is setting a new minimum qualifying rate for mortgages (referred to as a “stress

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