Obtaining a Mortgage Under the New Stress Test Rules

The new stress test means that when you’re buying a home it will have a direct effect on how much you can afford. Essentially, buyers are tested on their ability to afford mortgage payments at higher interest rates. They must prove to lenders that they can afford to carry a mortgage should the interest rates increase in the future.

Let me help you through this process and plan towards buying your home whether it is now, or in 6 months to a year.