A new year usually means bringing out the bubbly – but homebuyers are less inclined to cheers the beginning of 2018, as January 1st ushered in regulations that make it tougher to get a mortgage.
Guideline B-20 is the latest crop of
There were some game-changing moves made last year that will surely impact Ontario homebuyers in 2018. Here are five that you should know about:
Principal home sales must now be reported to the CRA
A capital gains tax rule
Starting January 1, 2018, all uninsured mortgages will have to undergo a stress test, meaning you need to be approved at 2% higher than your agreed upon rate. This news has many people scrambling to secure a mortgage before the end of the year,