Robert McLister·Mortgage Tips & Advice·April 1, 2010Reminder: BFS Rules Change on April 9 CMHC’s new Business for Self (BFS) rules will come into effect on April 9 (prior to the big April 19 rule changes). If you want to use the older, more liberal BFS rules, you’ll need to have a firm lender approval or (if a purchase) a fully executed purchase agreement by April 8. This deadline is especially relevant if you’re mortgage shopping and are: Paid 100% on commission Self-employed and in need of 95% loan-to-value on a purchase Self-employed for over three years These rule changes apply to stated-income mortgages only. If you are self-employed and fully proving your income then you can ignore this post. Speak to a mortgage professional for complete details. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.