Lina and Zinah S. are sisters living in Saskatoon. They live with elderly and ailing parents and a disabled sister, all of whom need the sisters’ care.

They were looking to buy a home in the range of $400,000, as they need a four-bedroom house to accommodate the family.  They were also looking for a newer home since both sisters work long hours, care for their family members, and are young and not capable of doing repairs.

Lina and Zinah also both have excellent credit scores and have been saving for four years to put 10 per cent down for a purchase.

Unfortunately, the entire family is now stuck due to changes in the mortgage rules. They can only qualify to buy a home for about $350,000 with $60,000 down. A home in this price range would deplete their entire savings, leaving no back up resources. Also, a home in this price range would be older and cause added stress due to future maintenance needs.