Quote:
Originally Posted by tiger_handheld
you have 120k/300k saved up for a down payment? You realize that is 40% down payment? You know the CMHC requirement is 25%? with 40% down, the bank has decreased it's risk like no tomorrow. What's your salary like? If you make decent coin - you have made up more than enough for the low credit score. Get a mortgage broker and shop around...
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I'm pretty sure CMHC is 20%, but either way OP is way over. A mortgage broker should at least be able to tell you roughly what you'll be approved for based on your income and whatnot, you don't necessarily need to be approved right now but you should probably know what the banks are willing to approve you for.