The New 'Mortgage Stress Test' Is For Everyone. And It's Complex
Wednesday Mar 7th, 2018
ShareAs of January 1st, every borrower needs to pass a new “Mortgage Stress Test” (MST) to qualify for a mortgage loan at a bank. And it won’t matter how much downpayment you have. Even if it’s 20% or over, you’ll still be subject to the MST. Once you pass the test, you’re not required to actually make a 20% down payment - you can still take advantage of a lower one and a lower mortgage rate. But first you have to pass 'the... [read more]
