Canadian insurers make increases to debt coverage ratios

In following our commitment to providing current product information for our clients, MyMortgage.ca is pleased to announce the following changes to insurer’s guidelines for borrower qualifications (GDS/TDS).

Benefits
Provides Home ownership for a new segment of the market.

Eligibility Requirements:

• TDS/GDS ratios of 42% and 35% respectively are acceptable for high ratio insured mortgages for applicants with a  credit score < 680.
• TDS/GDS ratios of 44% and N/A respectively are acceptable for high ratio insured mortgages for applicants with a  credit score >680+.

	All Products		All Products
Bureau Score	< 680		≥ 680
TDS	42%		44%
GDS	35%		N/A