{"id":2360,"date":"2021-05-30T15:04:54","date_gmt":"2021-05-30T19:04:54","guid":{"rendered":"http:\/\/www.karenmillar.com\/blog\/?p=2360"},"modified":"2021-05-30T15:04:55","modified_gmt":"2021-05-30T19:04:55","slug":"stress-test-update","status":"publish","type":"post","link":"https:\/\/www.karenmillar.com\/blog\/stress-test-update\/","title":{"rendered":"Stress test update!"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

June 1 is Tuesday and that is when the rules change! Here is an update from our friend Jake about what’s to come:<\/p>\n\n\n\n

“We all know that as of June 1st there is a new stress-test for\u00a0ALL<\/strong>\u00a0borrowers, 5% down, 20% down, 50% down etc.
We all thought that a pre-approval would not be valid at all. You\u00a0have to have BOUGHT a property BEFORE June 1st to be eligible for the old test rules.
But wait! Hold on!<\/p>\n\n\n\n

ONE lender (CMLS) just announced that they WILL pre-approve borrowers for 120 days\u00a0IF YOU SUBMIT THE APPLICATION BEFORE JUNE 1st<\/u>\u00a0and you can purchase within that 120 days to qualify under the\u00a0old rules<\/u><\/strong>.
That’s CRAZY good.<\/p>\n\n\n\n

That means if you are a frenzied buyer who is deflated (by 4%) will no longer feel this way! Hopefully…. You will have a little breathing room and maybe catch a deal in the Great Reopening Summer 2021 when everyone is on the beach, at the cottage, or on a boat, and you are out there finding a property.
<\/p>\n\n\n\n

If you are humming and hawing… sitting on the fence…. a buyer with 5% down…. contact me asap (before June 1) and we can have pre-approve you ASAP<\/strong>.
The process is VERY easy:
1. Apply at\u00a0www.mortgagejake.com\/apply<\/a> 2. We PRE-approve you for 120 days as of Monday.\u00a03. We QUALIFY you at the OLD 4.79% RATE (4% MORE buying power)”
<\/p>\n\n\n\n

Jake<\/p>\n\n\n\n

Jake Abramowicz<\/strong>
E: Jake@mortgagejake.com<\/a>C: 416 910 4448
A Mortgage Agent with Premiere Mortgage Centre<\/strong>.MBL 10317FSCO M08003274<\/p>\n","protected":false},"excerpt":{"rendered":"

June 1 is Tuesday and that is when the rules change! Here is an update from our friend Jake about what’s to come: “We all know that as of June … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,1681,1473,1706,5],"tags":[1174,56,2526,2524,218,19,672,126,2527,27,2525,331,9,1476],"class_list":["post-2360","post","type-post","status-publish","format-standard","hentry","category-community","category-don-mills","category-finance","category-open-in-don-mills","category-real-estate","tag-buying","tag-buying-a-home","tag-cmls","tag-deposit","tag-financing","tag-first-time-buyer","tag-karen-millar","tag-karen-millar-team","tag-money","tag-mortgage","tag-mortgage-guy-jake","tag-mortgages","tag-real-estate","tag-stress-test"],"_links":{"self":[{"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/posts\/2360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/comments?post=2360"}],"version-history":[{"count":1,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/posts\/2360\/revisions"}],"predecessor-version":[{"id":2362,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/posts\/2360\/revisions\/2362"}],"wp:attachment":[{"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/media?parent=2360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/categories?post=2360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.karenmillar.com\/blog\/wp-json\/wp\/v2\/tags?post=2360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}