Tag Archive for Firstline

Pulling the plug on stated income

Self-employed: smaller and smaller chance to get a mortgage Firstline (the mortgage arm of CIBC) announced sweeping changes affecting self-employed borrowers just two days ago; yesterday Laurentian Bank did, today – Street Capital. All of them either stop lending to…

Who killed the variable rate?

Not as attractive as a month ago For a long time variable rate was the ultimate choice for borrowers who didn’t mind some fluctuations in their mortgage payments in return of big savings in interest. It worked very well. And…