How will Canada’s Top Lender manage in-flight applications? Changes to existing policies and procedures may impact applications initiated before or after January 1, 2018 (this policy will be subject to change at any time, without notice).

TimelinePre-ApprovalPurchase Transactions or Refinances
Before January 1, 2018Pre-Approvals committed before January 1st will remain valid up to 120 days following the initial credit decision.Approved applications closing before or beyond January 1st will remain valid; no re-adjudication is required as a result of the qualifying rate update.
On and after January 1, 2018Any material changes to the request post January 1st may require re-adjudication using updated qualifying rates.Material changes to the request post January 1st may require re-adjudication using updated qualifying rate rules.

 

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