Mortgage Rules

Starting March 18/2011 there will be some changes, again, to the mortgage industry:

1- Maximum amortization time will be reduced from 35 years to 30 years which can make a difference of around $ 100 in payments on a $ 300,000 Mortgage 

2- The maximum Canadians can borrow to refinance their mortgage will be lowered from 90% to 85%

Marcus Kallweit

Marcus Kallweit

Affiliated Real Estate Agent
CENTURY 21 Home Realty Inc., Brokerage*
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