CMHC to allow 100% of rental income from legal secondary suites!
CMHC has announced it will allow 100% of the rental income from legal secondary suites to be used when qualifying for a mortgage. Currently it allows 50%. The new rule takes effect September 28, 2015. This can have a significantly positive impact on those applying for a mortgage for a property with a legal basement apartment. Check out the link below and contact me for more info and to discuss how this can affect you personally.
