Real Estate In Red Deer & Area
Real Estate in Red Deer, Jon & Denise Nichols Real Estate in Red Deer, Jon & Denise Nichols

Coming Soon! New Mortgage Qualifications

Mortgage Alliance

Changes to qualification requirements for conventional Mortgages

Current guidelines

-         Borrowers qualify at a payment based on the contracted interest rate

New Guidelines as of January 1, 2018

-         Borrowers must qualify at a payment based on the greater of the qualifying rate (currently 4.99%) or 2% above the contracted rate.

*All Insured borrowers (less than 20% down payment) currently have to qualify at a payment based on the qualifying rate (4.99%).

* The new changes taking affect January 1, 2018 affect only conventional borrowers (20% or more down payment).

Contact Jon at 403-302-0800 today if you have any questions about these changes!

 (Source: Brenda Mackay - Mortgage Alliance Advance Mortgage)

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Jon Nichols

Jon Nichols
Century 21 Advantage
Phone: 403.302.0800
Email:

Denise Nichols

Denise Nichols
Century 21 Advantage
Phone: 403.302.9498
Email:

Jeznichols Square

Jez Nichols
Century 21 Advantage
Phone: 403.392.7002
Email: