TD – New Mortgage Rules: Stress Test for Home Buyers

What is the new mortgage stress test? TD Canada Trust is ready to answer your questions and guide you through the new mortgage rules in Canada. To learn more visit:  https://go.td.com/2A34Rv4

The new mortgage rules come into effect on January 1, 2018.
Under the new Canadian mortgage rules, home buyers who have a down payment of 20% or more will be subject to a stress test.  A stress test would determine whether a homebuyer would be able to afford their principal and interest payments if interest rates increase.  

Under the new mortgage rules, the stress test will use either 5-year benchmark rate published by the Bank of Canada or customer's mortgage interest rate plus 2%, whichever is the higher.

You can use the TD Mortgage Affordability Calculator to estimate your down payment and compare which mortgage suites you best: https://tools.td.com/mortgage-afforda...  

Contact a TD Mobile Mortgage Specialist to learn more about the new mortgage rules and to find a mortgage solution that best fits your needs: https://www.forms.td.com/app/resl/#/r...

• #education
• #td_bank
• #tdct
• #new_mortgage_rules
• #stress_test
• #mortgage_stress_test
• #new_canadian_mortgage_rules
• #home_buyers
• #mortgage_rule_changes
• #mortgage_rules
• #mortgage