What the July 9th CMHC changes mean to you if you are planning to buy housing soon: Bottom line, your purchasers will now qualify for less mortgage if their down payment is 5 or 10% of the purchase price. Example - impact of changes for your purchaser with less than 20% down payment. $300,000 mortgage, currently the borrowers income should be approximately $37,000 to qualify. $300,000 mortgage, as of...
