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CMHC to make financing easier for self employed Canadians...

CMHC has announced that they will be making it 'easier' for self employed borrowers to obtain a mortgage. I have not received any concrete information on what this means as of yet. If you have gotten a mortgage lately you know it definitely isn't easy these days! CMHC is only one of 3 insurers in Canada. The other two already have a stated income program which makes qualifying for a mortgage a little easier for self employed people who cannot prove their income in a traditional way. My guess is that CMHC is going to get on board with the other two insurers (Genworth & Canada Guaranty) and match their self employed programs. Hard to say right now but I will report back when I have some more definitive information to share! Self employed mortgage info HERE.

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