When you port a mortgage do you require 5 down

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Maynard

When you port a mortgage do you require 5 down?

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	Q. What does cmhc require for mortgage approval?
	CMHC is the least of your worries as the lender submits the deal to them for approval. Normally the lenders or banks have tighter guidelines than CMHC so the lender can be assured of CMHC insurance when they submit the deal. Comment Reply Report 1 0

Q. If you port your mortgage for the same amount do you require a down payment?

Is porting down a mortgage (to a lower value) the same as buy down the interest rate on a mortgage

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Q. Do i require a t4 to get a mortgage, or are letter of employment and pay stubs enough?

ON Canada - in my experience, Notice of Assessments is more critical than T4`s. Pay stubs and letter of employment would be essential. T4`s not really critical unless the lender has doubts about your paystub or if you have not filed your income tax on time.

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