FAQ's

Negotiate a client’s mortgage application with several financial institutions. Get you the best mortgage conditions available on the market, depending on your financial situation and credit history. Advise you on the best products and financial institutions available for your particular circumstances.

We provide a variety of mortgage options designed for the Courtenay-Comox real estate market, including fixed-rate mortgages, variable-rate mortgages, and others. We'll collaborate with you to identify the ideal option for your circumstances.

We provide a variety of mortgage options designed for the unique real estate market in Duncan and the Cowichan Valley, including fixed-rate mortgages, variable-rate mortgages, and more. We'll collaborate with you to identify the ideal option for your circumstances.

Lendlab offers a range of mortgage products in Campbell River, including fixed and variable rate mortgages, designed to meet diverse financial situations and goals.

We offer various mortgage options tailored to Ladysmith's real estate market, including fixed-rate mortgages, variable-rate mortgages, and more. We'll work with you to find the best fit for your needs.

We provide a variety of mortgage options tailored to Lantzville's real estate market, including fixed-rate mortgages, variable-rate mortgages, and more. Our goal is to find the best fit for your specific needs and financial situation.

Lendlab offers a range of mortgage products in Nanoose, including fixed- and variable-rate mortgages, tailored to fit diverse financial situations and goals.

We offer a range of mortgage options tailored to Qualicum Beach's real estate market, including fixed-rate mortgages, variable-rate mortgages, and more. Our goal is to find the best fit for your needs.

We offer a variety of mortgage options suitable for the Parksville real estate market, including fixed-rate and variable-rate mortgages, among others. We’ll work closely with you to find the best fit for your situation.

Lendlab offers a range of mortgage products in Victoria, including fixed and variable rate mortgages, designed to meet diverse financial situations and goals.

The interest rate on a fixed-rate mortgage is set for a pre-determined term - usually between 6 months to 5 years. This offers the security of knowing what you will be paying for the term selected.

Mortgage rates in Courtenay-Comox may vary based on market dynamics and your personal financial profile. You can view the current market rates listed above, or get in touch with us for the latest rate information and tailored quotes for your specific situation.

Mortgage rates can fluctuate due to various factors. Contact Lendlab for the most up-to-date information and personalized quotes based on your financial profile in Campbell River.

Mortgage rates in can fluctuate based on market conditions and your personal financial profile. Check out the current market rates listed above, or contact us for the latest rate information and personalized quotes for your specific situation.

Mortgage rates in Ladysmith can fluctuate based on market conditions and your financial profile. Check out the current market rates listed above, or contact us for up-to-date rate information and personalized quotes based on your specific situation.

The minimum down payment required depends on factors such as the purchase price of the property and the type of mortgage. We can help you understand the down payment requirements and explore available down payment assistance programs.

Mortgage rates in Nanoose can fluctuate based on various factors. See the mortgage rates listed above or contact Lendlab for the most up-to-date information and personalized quotes based on your financial profile in Nanoose.

Mortgage rates in Parksville can fluctuate based on market conditions and your personal financial profile. Check out the current rates listed above, or contact us for the most recent rate information and personalized quotes tailored to your specific situation.

The minimum down payment required depends on factors such as the property's purchase price and the type of mortgage. We can help you understand the down payment requirements and explore available down payment assistance programs.

Mortgage rates can fluctuate due to various factors. Contact Lendlab for the most up-to-date information and personalized quotes based on your financial profile in Victoria.

Mortgage rates can fluctuate due to various factors. Contact Lendlab for the most up-to-date information and personalized quotes based on your financial profile in Nanaimo.

A mortgage in which payments are fixed for a period of one to two years although interest rates may fluctuate from month to month depending on market conditions. If interest rates go down, more of the payment goes towards reducing the principal; if rates go up, a larger portion of the monthly payment goes towards covering the interest. Open variable rate mortgages allow prepayment of any amount (with certain minimums) on any payment date.

The minimum down payment depends on several factors, such as the property's purchase price and the type of mortgage. We'll help you understand the down payment requirements and discuss any available assistance programs.

The minimum down payment varies depending on the property price and mortgage type. Lendlab can help you understand these requirements and explore possible down payment assistance programs in Campbell River.

The minimum down payment required depends on several factors, such as the property's purchase price and the type of mortgage. We can help you understand the down payment requirements and explore any available assistance programs.

The minimum down payment required depends on several factors, such as the purchase price of the property and the type of mortgage. We can help you understand the down payment requirements and explore available down payment assistance programs.

The minimum down payment varies depending on the property price and mortgage type. Lendlab can help you understand these requirements and explore possible down payment assistance programs in Nanoose.

Common documents required for a mortgage application include proof of income (pay stubs, tax returns), employment verification, bank statements, identification, and details about the property. We'll provide you with a comprehensive list to streamline the application process.

The minimum down payment required depends on several factors, such as the purchase price of the property and the type of mortgage. We can assist you in understanding these requirements and exploring any available down payment assistance programs.

Common documents required for a mortgage application include proof of income (pay stubs, tax returns), employment verification, bank statements, identification, and property details. We'll provide you with a detailed list to streamline the application process.

The minimum down payment varies depending on the property price and mortgage type. Lendlab can help you understand these requirements and explore possible down payment assistance programs in Victoria.

The minimum down payment varies depending on the property price and mortgage type. Lendlab can help you understand these requirements and explore any available down payment assistance programs in Nanaimo.

Very few home buyers have the cash available to buy a home outright. Most of us will turn to a financial institution for a mortgage the first step in a potentially long-standing relationship. But even with a mortgage, you will need to raise the money for a down payment. The down payment is that portion of the purchase price you furnish yourself. The amount of the down payment (which represents your financial stake, or the equity in your new home) should be determined well before you start house hunting. The larger the down payment, the less your home costs in the long run. With a smaller mortgage, interest costs will be lower and over time this will add up to significant savings.

Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, Canada Guaranty and Sagen, approved private corporations. This insurance is required by law to insure lenders against default on mortgages with a High Ratio. The insurance premiums are paid by the borrower and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.

Essential documents for a mortgage application typically include proof of income (like pay stubs and tax returns), employment verification, bank statements, identification, and property details. We'll provide you with a comprehensive list to simplify the application process.

Typically, you’ll need proof of income, employment verification, bank statements, ID, and property details. Lendlab will provide a detailed list to streamline your application process in Campbell River.

Common documents required for a mortgage application include proof of income (pay stubs, tax returns), employment verification, bank statements, identification, and details about the property. We'll provide you with a comprehensive list to streamline the application process.

The documents required for a mortgage application include proof of income (pay stubs, tax returns), employment verification, bank statements, identification, and details about the property. We'll provide you with a detailed list to streamline the application process.

The timeline for mortgage approval varies depending on factors like your financial situation and the lender's processing times. On average, it takes about 30 to 45 days from application to funding, but we work diligently to expedite the process.

Typically, you’ll need proof of income, employment verification, bank statements, ID, and property details. Lendlab will provide a detailed list to streamline your application process in Nanoose.

Common documents required for a mortgage application include proof of income (such as pay stubs and tax returns), employment verification, bank statements, identification, and details about the property. We’ll provide you with a detailed list to make the application process as smooth as possible.

To qualify for lower interest rates, maintaining a strong credit score, stable employment, and a low debt-to-income ratio is essential. Lendlab advises on strategies to enhance your financial profile, ensuring you secure the best possible rates in Victoria.

The timeline for mortgage approval in Qualicum Beach varies based on factors like your financial situation and the lender's processing times. On average, it takes about 30 to 45 days from application to financing, but we work efficiently to expedite the process.

You will typically need to provide proof of income, employment verification, recent bank statements, a valid ID, and details about the property. Lendlab will provide a detailed list to streamline your application process in Nanaimo.

A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value of or less than 80%, and does not normally require mortgage loan insurance.

The duration for mortgage approval varies based on your financial complexity and the lender’s processing times. Generally, it ranges from about 30 to 45 days from application to funding. We're committed to making the process as swift as possible.

The timeline for mortgage approval from start to finish can vary depending on factors like the complexity of your financial situation and the lender's processing times. Generally, it takes about 30 to 45 days from application to funding, but we'll work efficiently to expedite the process.

The approval timeline can vary, usually between 30 to 45 days, depending on your financial details and lender processing times. Lendlab works to expedite this process for you in Campbell River.

The timeline for mortgage approval from start to finish can vary depending on factors like the complexity of your financial situation and the lender's processing times. On average, it takes about 30 to 45 days from application to funding, but we'll work efficiently to expedite the process.

The approval timeline can vary, usually between 30 to 45 days, depending on your financial details and lender processing times. Lendlab works to expedite this process for you in Nanoose.

Yes, we provide mortgage pre-approval services to help you understand your budget, secure an interest rate, and strengthen your offer while shopping for a home in Lantzville. Pre-approval involves assessing your financial information and creditworthiness.

The mortgage approval process can vary depending on the complexity of your financial situation and the lender’s processing times. Typically, it takes about 30 to 45 days from application to funding. We are committed to expediting this process wherever possible.

Yes, we provide mortgage pre-approval services to help you understand your budget, lock in an interest rate, and strengthen your offer when home shopping in Qualicum Beach. Pre-approval involves an assessment of your financial information and creditworthiness.

Typically, you’ll need proof of income, employment verification, bank statements, ID, and property details. Lendlab will provide a detailed list to streamline your application process in Victoria.

The approval timeline can vary, usually between 30 to 45 days, depending on your financial details and lender processing times. Lendlab works to expedite this process for you in Nanaimo.

Yes, we offer mortgage pre-approval services that enable you to determine your budget, secure an interest rate, and strengthen your home-buying offer in Courtenay-Comox. This includes an initial review of your financial and credit information.

Yes, we provide pre-approval services to help you determine your budget and secure an interest rate, giving you a competitive edge when house hunting in Campbell River.

Yes, refinancing is available and can be a good strategy to access lower interest rates, consolidate debt, or free up home equity. We offer refinancing options and can advise on the best approach considering your current financial situation and goals in Duncan and the Cowichan Valley.

Yes, we provide mortgage pre-approval services to help you understand your budget, lock in an interest rate, and strengthen your offer when shopping for a home in Ladysmith. Pre-approval involves a preliminary assessment of your financial information and creditworthiness.

Yes, we provide pre-approval services to help you gauge your budget and secure an interest rate, giving you a competitive edge when house hunting in Nanoose.

Closing costs typically include legal fees, land transfer tax, appraisal fees, and title insurance. We'll provide you with a detailed estimate of closing costs based on your specific transaction. Check out our closing costs calculator for more information.

Yes, we offer mortgage pre-approval services that help you define your budget, secure an interest rate, and strengthen your offer when house hunting in Parksville. This process involves a preliminary review of your financial and credit information.

Closing costs typically include legal fees, land transfer tax, appraisal fees, and title insurance. We'll provide you with a detailed estimate of closing costs based on your transaction. Check out our closing costs calculator for more details.

The approval timeline can vary, usually between 30 to 45 days, depending on your financial details and lender processing times. Lendlab works to expedite this process for you in Victoria.

Yes, we provide pre-approval services to help you determine your budget and secure an interest rate, giving you a competitive edge when house hunting in Nanaimo.

While we are licensed to provide mortgage broker services all across BC, we focus primarily on Vancouver Island serving you in Nanaimo, Victoria, The Cowichan Valley, Parksville, Qualicum, and beyond.

Closing costs often cover expenses like legal fees, land transfer taxes, appraisal fees, and title insurance. These costs vary; we'll give you a detailed estimate based on your particular transaction. Check our closing cost calculator for more insights.

The mortgage pre-approval process in Duncan and the Cowichan Valley involves evaluating your financial situation to determine how much you can afford to borrow before you find a home. This includes reviewing your income, credit score, debts, and assets. Pre-approval helps you understand your budget, strengthens your position as a buyer, and can speed up the buying process once you make an offer on a home.

Closing costs typically include fees for services like legal fees, land transfer tax, appraisal fees, and title insurance. The exact amount can vary, so we'll provide you with a detailed estimate of closing costs based on your transaction. Check out our closing cost calculator to learn more.

Closing costs can include legal fees, land transfer taxes, and more, which vary per transaction. Lendlab will give you a detailed estimate specific to your purchase in Campbell River.

Yes, we can help with mortgage refinancing to lower your interest rate, consolidate debt, or access home equity. We'll evaluate your situation to determine if refinancing is the right choice for you.

Closing costs can include legal fees, land transfer taxes, and more, which vary per transaction. Lendlab will give you a detailed estimate specific to your purchase in Nanoose.

Closing costs typically include legal fees, land transfer taxes, appraisal fees, and title insurance, among others. These costs can vary, and we’ll provide you with a detailed estimate based on your specific transaction. Check our closing cost calculator for more information.

Yes, we provide pre-approval services to help you gauge your budget and secure an interest rate, giving you a competitive edge when house hunting in Victoria.

Yes, we can assist with mortgage refinancing to lower your rate, consolidate debt, or access home equity. We'll evaluate your situation to determine if refinancing is right for you.

Closing costs can include legal fees, land transfer taxes, and more, which vary per transaction. Lendlab will give you a detailed estimate specific to your purchase in Nanaimo.

Absolutely, refinancing your mortgage is an option here in Courtenay-Comox and can be advantageous for reducing your interest rate, consolidating debts, or tapping into your home equity. We'll assess whether refinancing suits your current needs.

Yes, mortgage refinancing is an option in Ladysmith and can be beneficial for lowering your interest rate, consolidating debt, or accessing home equity. We'll evaluate your situation to determine if refinancing is the right choice for you.

Yes, we offer mortgage options for investment properties and vacation homes in Lantzville. Our mortgage services extend to a variety of property types, including primary residences, secondary homes, rental properties, and vacation homes. We can discuss your specific needs and goals to find the right mortgage solution tailored to your investment property or vacation home purchase in Lantzville.

Yes, Lendlab offers mortgage solutions for those interested in purchasing second homes or vacation properties in Nanoose. We can guide you through the options available and help you secure financing that suits your secondary property goals.

Yes, refinancing your mortgage in Parksville is a viable option that can offer several benefits, such as lowering your interest rate, consolidating debt, or accessing home equity. We’ll evaluate your situation to determine if refinancing is the right choice for you.

Our mortgage brokerage stands out for personalized service, local market expertise, access to a wide range of lenders, competitive rates, and a commitment to building long-term relationships. We prioritize transparency, efficiency, and client satisfaction throughout the mortgage process.

Self-employed applicants in Nanaimo may need to provide additional documentation to prove their income stability, such as tax returns, bank statements, and business financials. Lendlab specializes in handling cases for self-employed individuals and can guide you through the application process to maximize your chances of mortgage approval.

Closing costs can include legal fees, land transfer taxes, and more, which vary per transaction. Lendlab will give you a detailed estimate specific to your purchase in Victoria.

Our services in Courtenay-Comox are notable for our personalized approach, deep local market knowledge, access to a wide array of lenders, competitive rates, and our dedication to fostering lasting relationships. We emphasize transparency, efficiency, and customer satisfaction throughout the mortgage process.

Our mortgage broker services in Ladysmith stand out for our personalized service, local market expertise, access to a wide range of lenders, competitive rates, and commitment to building long-term relationships. We prioritize transparency, efficiency, and client satisfaction throughout the mortgage process.

Our mortgage brokerage stands out for its personalized service, local market expertise, access to a wide range of lenders, competitive rates, and commitment to building long-term relationships. We prioritize transparency, efficiency, and client satisfaction throughout the entire mortgage process.

Understanding property taxes in Nanoose is crucial for budgeting your home purchase. Lendlab can provide information on current tax rates and how they might affect your overall mortgage planning. We’ll ensure you have all the necessary details to make an informed decision.

To enhance your mortgage approval chances in Parksville, ensure your credit score is strong, your debt-to-income ratio is low, and your employment history is stable. We recommend consolidating debts and increasing your down payment if possible. Our team can provide personalized advice on preparing your financial profile for mortgage approval.

Lendlab offers a variety of mortgage products in Nanaimo, including fixed and variable rate mortgages, designed to meet diverse financial situations and goals.

In a competitive Nanaimo market, it’s crucial to get pre-approved for a mortgage, understand your budget limits, and be ready to act quickly. Lendlab can help you prepare by ensuring your financing is in order, giving you a competitive edge. We also recommend working with a knowledgeable real estate agent to navigate fast-moving market conditions.

Yes, Lendlab can assist with the mortgage transfer process if you're relocating to Victoria. We'll review your current mortgage terms, suggest the best options available locally, and handle the transition smoothly.

If you're considering Nanoose for real estate investment, Lendlab can help you assess potential properties, understand market trends, and secure suitable financing. Whether you’re looking to buy a rental property or a fix-and-flip, we have the expertise to support your investment journey.

The type of property you purchase in Victoria—whether it's a condo, townhouse, single-family home, or multi-family unit—can affect mortgage options. Factors like property location, condition, and price all influence lender terms. Lendlab can guide you through choosing the best mortgage for different property types.

A recent statistic from Sagen Canada stated that 73% of newcomers to Canada believe that buying a home is a sound investment strategy.  I was new to Canada not too long ago and I was able to get a mortgage and purchase my first home.  Personally, I wanted to buy a home because I believed that it would connect me to my community and I certainly feel that way now.

​Did you know that qualified newcomers to Canada can purchase a property with as little as 5% down?  There are different criteria to determine borrower qualification and I can help you through the process.

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This mortgage product is designed as a financial solution for homeowners who are 55 or older and wanting to access the equity that they have built up in their home. With a CHIP reverse mortgage, you can access up to 55% of your home's equity.  You will maintain ownership of your home and never have to move or sell.  You can also choose to receive your money in one lump sum or as monthly payments.  It is advisable to talk to both a mortgage broker and a financial planner when contemplating a reverse mortgage.

Commercial mortgages are arranged differently from residential mortgages and have their own set of rules for qualification and funding.  Please email for more information. Different professionals have strengths in different areas of commercial lending and we want to make sure we are the right fit for you or if we can refer you to someone who can help.

Whether you are starting out and buying a home for the first time, making your second or even third home purchase, or looking to invest in a rental or vacation property, mortgage financing can be challenging.  Just over the last year or so, policies and regulations have significantly changed the way we qualify for mortgages.  In the last 10 years, changes have affected amortization terms, down payments, refinancing options, and credit score guidelines.  Whatever those changes are, my job as a mortgage broker is to stay current and explain everything in terms you will understand and eliminate any doubts you might have.  

​If you are a first time home buyer you might have many questions such as: How much can I really afford? How big of a mortgage can I get approved for today? What is my credit score and how does a lender rate me? Is the home buying process very difficult?  It may all seem daunting at first but I assure you that I can explain the entire process to you and make it simple to understand.  From finding a realtor to arranging every aspect of your financing, I can help and I will be with you every step of the way.  

If you are investing in a second home, note that the process is a bit different from how you bought your current home.  Give us a call and we'll walk you through it.

There are multiple reasons for wanting to refinance your mortgage.  You might be interested in getting a lower interest rate, looking into making some major home renovations, consolidating some debt that has been hanging around or just wanting to leverage the equity built up in your home.  Whatever the reason, it is important to understand what type of mortgage you currently have and what, if any, the penalties are for breaking it early.  If you are looking into a refinance, let us crunch some numbers for you to see if it is your best option.  

If it makes sense to switch, we can handle the entire process for you.  At the very least, we can analyze your situation and you will have the information that you need to move forward.  

Is your mortgage renewal coming up?  Have an offer from your current lender already in hand?  Have a chat with a mortgage broker.  Your current lender may not be offering you the most competitive rates or terms.  Over half of Canadians simply renew their mortgage with their current lender without shopping around and risk losing out on substantial savings.  Transferring your mortgage to a different lender will require a new application, more paperwork, and costs for legal fees, an appraisal, and administrative expenses.  Even with all that, the savings could still make it worth your while.  Our team will do the research for you and make the process as simple as possible.

In addition to being a newcomer, I was also self-employed.  This made my mortgage application even trickier but we were able to get it done.  Qualifying for mortgages as a self-employed professional comes with its own set of challenges and you should not have to pay a premium for your career choice.  The number of Canadians who are self-employed grows annually and the industry has started to take steps to better recognize this.  Whatever your situation is, I'm sure we can find a solution for you.

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All it takes is a conversation.  If you have goals of owning a real estate portfolio, don't sit around waiting for too long.  Start the conversation and see if we can bring that dream to life.  Arrange a consultation and gain a better understanding of your financing options and how you can potentially accumulate multiple investment properties.

This agreement will need to show the tenants name, their monthly rent amount and it needs to be signed by the tenant.

Letter from your employer on letter head stating your tenure at the job position, wage and hours worked per week. If you have less than 3 months on the job, it will need to state if you are off probation.

You will need a paystub dated within the last 30 days showing your year to date gross earnings. Note: if your paystub is not showing your year to date, you will need to supply a T4 as well.

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This form is supplied to you by your employer every year. It states your total earnings and deductions for the previous year.

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This is sent to you from Canada Revenue Agency (CRA) after they have reviewed your tax return and will state the main lines/amounts used to calculate if you have a refund or balance owing.

This form is provided to you by the Provincial Government showing you what your property assessment is for the previous year and the balance owed for the current year. Most lenders require this form as they need to see that your property taxes are paid up to date.

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You will need to provide your most recent mortgage statement which is provided by your lender once a year. Showing the breakdown of principal and interest paid over the year and the details of your mortgage (eg. Remaining time left on your current term, maturity date, amortization, etc.)

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An estimate of the value in real property. These are conducted by certified appraisers, for lending institutions to accurately gauge property value. Appraisals are often required by lenders so that they can receive an objective value of the subject property.

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This is a meeting of the stakeholders in strata in which they go over the financial history of the year and discuss any issues that need to be resolved.

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These are the notes documented from AGMs and other strata meetings. These notes will help provide an in-depth look into the building as well as the operations of the building.

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This form details a variety of information about a strata lot and the strata corporation. It is requested when someone is considering buying a strata property.

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Provides useful information to strata lot owners, prospective purchasers, and lenders about a strata property and its projected costs/plans for repairs, as well as replacement costs, over a 30-year period.

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This two-page document obligates the seller to disclose any and all known defects on the property. Its purpose is to protect the purchaser in the real estate transaction.

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The T1 General breaks down all sources of income claimed and is most often requested if you are self employed or own a corporation. The additional details help establish income for mortgage qualification.

All uninsured mortgages by federally-regulated financial institutions must be tested using the greater of two percentage points above the contracted interest rate or the 5- year posted rate.  Lenders are expected to not engage in “co-lending” activities that would circumvent loan-to-value limits.

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 All insured mortgages must be tested using the 5-year posted rate (this includes low ratio portfolio insured mortgages).

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For homes priced above $500,000, the minimum down payment is 10 per cent on the portion of the price above $500,000.

 Reduce maximum insured refinancing to 80% from 85%.  Elimination of insurance for homes priced over $1 million. Reduce maximum amortization to 25 years from 30 years.  Minimum credit scores for 39% GDS and 44% TDS ratios

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Reduce maximum amortization to 30years from 35 years.  Reduce maximum insured refinancing to 85% from90%. Withdraw insurance for Home Equity Lines of Credit

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Borrowers with variable-rate mortgages or fixed-rate mortgages with terms less than five years be qualified based on posted rates for 5-year fixed rate mortgages.  Reduce maximum insured refinancing to 90% from 95%. Require 20% down payment for small rental properties

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Reduce maximum amortization to 35 years from 40 years.  Requirement for minimum 5% down payment. New loan documentation standards.  Establishment of minimum credit scores.

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