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The Briar Hill Group

Self Employed and Buying a Home?

Self Employed?

For those self-employed people who are wondering about purchasing a home... new rules from the government will affect you.

From a local mortgage broker, Rod Kurtz: I still have a few lenders currently willing to do stated income for now. If you have any self-employed income clients looking to purchase a home you mayWant to let them know that things are changing. If they have 35% down payment then this will not be a problem but ,clients who only have 10% for down payment, will need to get going before things change.

Based on this article, the changes will be phased in over time.

http://www.financialpost.com/personal-finance/Flaherty+tightens+mortgage+rules/4119505/story.html

Jane

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December 24, 2017 1:27 AM

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About Jane Johnston Personal Real Estate Corporation M.E

Jane Johnston was a winner of an VREB MLS® Silver Award in 2007 and 2008 and 2010, and MLS® Gold Award Winner in 2010. Jane was Pemberton Holmes' top new REALTOR® in her first year and has consistently been a top 1% performing realtor at Pemberton. Jane is focused on providing you with top-rated service.