Canada Mortgage and Housing Corporation (CMHC) is changing its underwriting policies for insured mortgages.

Starting July 1, new applicants for CMHC's mortgage default insurance will have to meet the following criteria:

For over 30 years, Excel Homes has been crafting homes with extraordinary style and attention to detail, winning numerous awards for its innovative designs.

But company COO Dean Campbell says that what really sets this homebuilder apart is its commitment to sustainability and the Built Green program.

BMO specialist Laura Parsons highlights often-overlooked programs for first-time buyers

Price is the deciding factor for many young adults who are purchasing their first home.

This isn't necessarily a bad thing; but you actually risk taking a financial hit when you fixate solely on what you think you can afford, said BMO mortgage specialist Laura Parsons.

"Millennials tend to migrate to affordability instead of understanding their options," said Parsons, who has more than 30 years of mortgage experience.