BMO Tightens Mortgage Rules | Watch Today’s Real Estate Updates & Tips

BMO has tightened mortgage rules for self-employed borrowers in steel and aluminum due to economic uncertainty.

New limits include stricter debt ratios and a 750+ credit score requirement for at least one applicant.

Experts say the change affects few borrowers but signals broader economic risk from ongoing trade tensions.

Critics warn other banks may quietly follow without clear communication.

Despite controversy, strong applications are still likely to be approved regardless of industry.


Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *