Federal Government Changes Home Owner Options

Click here for the Globe and Mail article.  Basically 4 main topics:

1. 35 years is the longest amortization period;

2. if investing you must put 20% minimum down payment;

3.if re-financing you can get 90% of your equity as compared to previous 95%;

4.home buyers must qualify to make payments on a 5 year term, but can still take whatever term they want.

 

 

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