Getting Mortgages Approved is Now the Toughest I've Ever Seen

The new regulations were supposed to effect federally regulated lenders such as RBC, TD, First National etc.

They weren't supposed to effect the provincially regulated lenders such as Coast Capital, Vancity, Blue Shore etc. 

Well they now have. 

The credit unions by choice are changing their guidelines:

1. Increasing qualifying rate (Vancity 3.69% to 4.64%)
2. Decreasing amortization (Vancity 30 year to 25 year)
3. Getting out of certain areas (Blue shore does not lend to Surrey anymore)

What's the solution?

Smart mortgage broker + long term mortgage planning.. 

Contact me so we can make sure you're well looked after.