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Originally Posted by FlamesAddiction
Also, would anyone recommend a credit union over a bank if it was an option?
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Depends on the Credit Union.
We have a lot more control over our adjudication process and our decision making is done locally so have some flexibility some banks might not have to think outside the box since we do actual underwriting and don't just have an auto decision program.
For a typically employee it might not seem like a big deal when qualified on a typical GDS/TDS scenario, but I know it was a big deal to one of our members when we utilized some excess cash (without him drawing it out as income) in his business accounts to save him 16K in CMHC fees.