Change to Mortgages
Posted by Becky on 11 Jul 2008 | Tagged as: Trish Belford, mortgage, real estate, tips
The following information is important for all buyers. Please read on to learn more.
You may have heard recently about the changes issued by the Federal Government. They have announced changes to the guarantee of mortgage loan insurance effective October 15, 2008.
As of October 15th, amortizations will only then be offered up to 35 years and loan-to-value up to 95%. These changes affects all government backed insurers, both CMHC and private insurers.
If you have any further questions regarding these changes, please contact Andrea Johnston at 613-968-5151 or andrea005@sympatico.ca. Andrea will gladly answer your questions.
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