Tue, 09 Apr 2024 17:48:13 +0000

New Borrowing Cap: Navigating the 4.5x Income Lending Limit and Its Impact on Your Real Estate Goals

Banks are now capped at lending 4.5 times a borrower’s income, thanks to a new rule from the Office of the Superintendent of Financial Institutions (OSFI). This is to keep debt risks low during periods of low interest rates. What does this mean for you? Are you house hunting or thinking about refinancing? How might this affect your plans and will it impact the housing…

https://amaljarmakani.wordpress.com/2024/04/09/new-borrowing-cap-navigating-the-4-5x-income-lending-limit-and-its-impact-on-your-real-estate-goals/