1) Maximum mortgage amortization will go from 35 years down to 30 years. (the difference works out to an extra $30 more per month for every $100,000 borrowed)
2) The maximum you can refinance will go down from 90% to 85% of the value of the home
3) CMHC will no longer support Home Equity Lines of Credit (if a client wants a line of credit to purchase, they must have 20% for down payment).
For contact information, please call/text me at: 647 283-8970 or email me at: stefania@HomesForEveryone.ca