When applying for a mortgage, aspiring homebuyers will have to prove they can
meet their payment obligations at an interest rate two per cent above the rate offered by their lender, or at the Bank of Canada five - year fixed rate (which at press time was 5.14 per cent), whichever is higher.
Not exact matches
The referred individual must publish
at least one manuscript in paperback or hardback form with Archway Publishing; and the referred individual must
meet all
payment obligations to Archway Publishing.
You may apply to have your cosigner released from their
obligation after the first 48 consecutive monthly principal and interest
payments are received on time as long as you
meet the underwriting and credit criteria
at the time the cosigner release is requested.
In general, the higher the credit rating, the more likely an issuer is to
meet its
payment obligations —
at least in the opinion of the rating agency.
Factors that can prevent someone from
meeting the traditional criteria could be a high debt - to - income ratio, low reserves
at settlement, as well as past credit woes — bankruptcies, defaults, foreclosures, or chronic late
payments on debt
obligations.