It is interesting to note that on March 30, 2007, Canada Mortgage and Housing Corporation (CMHC) has launched a program for people doing business for self (BSF), called"Self-Employed Simplified".
This means that borrowers with good credit history, minimum two years in same type of work and no income tax arrears, can now apply for up to 95% financing for purchase and up to 90% for refinancing.
While home buyers (permanent residents including citizens and immigrants as well as newcomers to Canada), who are employed can qualify for: Flex Down (90-95% financing and Flex 100 (95-100% financing)
For more useful information, please visit www.cmhc.ca
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Sheila Atienza,
BC Realtor (Richmond Multiple Realty) and Mortgage Broker (Dominion Lending Centres Westcoast)
Published Book Author:
"How to Prepare to Own a Home in Canada: Recession-proof Lifestyle for Immigrants and First-time Buyers" and Canadian Home Financing Simplified: How to Qualify as a Real Estate Buyer Copies available through Books.iClickProperty.com
Sheila Atienza is a market specialist - mortgage - real estate - agent in the communities of Richmond, such as, Terra Nova, Sea Island, Bridgeport, West Cambie, East Cambie, Riverdale, Quilchena, Granville, Seafair, Boyd Park, Steveston Village, Steveston North, Steveston South, Westwind, Woodwards, Broadmoor, Garden City, Saunders, South Arm, Brighouse, Brighouse South, Mclennan North, Gilmore, Mclennan, East Richmond, McNair, Ironwood, Hamilton. Sheila has been helping immigrants, first time buyers and investors through the process of buying and selling of properties.
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