New Mortgage Changes starting July 19, 2012

Please be advised, effective July 9, 2012, the following changes mandated by the Department of Finance – Canada will be implemented:

  • Maximum Amortization Available for Insured Mortgages will be 25 years
  • Insured Mortgage must have a Purchase Price less than $1 Million
  • Maximum Amortization Available for Uninsured Mortgages remains at 30 years
  • Maximum Loan-to-Value Ratio for Refinances (insured and conventional) will be reduced to 80%


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Michelle Lu-Do

Michelle Lu-Do

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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