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New Mortgage Rules now effective for Canada – March 18, 2011 – Vancouver real estate

January 17, 2011

Filed under: Mortgage Financing,Vancouver — Richard Morrison @ 2:07 pm

Hello all! Hope you’re having a great start to the week! Just in case you know someone thinking of purchasing or refinancing your Vancouver home, I thought you might be interested in knowing about today’s announcement regarding changes to mortgage qualifications. Effective March 18, 2011: 1.A 30-year maximum amortization on insured mortgages (down payment of less than 20% ) 2.An 85% Loan to Value limit on insured refinances 3.Elimination of government insurance on secured lines of credit (aka., HELOCs) Flaherty […]