Ottawa's Mortgage Shake Up Ideal For Buyers!

Saturday Sep 28th, 2024

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Never have we seen so many changes in such a short time. This has been a month jam-packed with mortgage rule easing. Last week, the feds declared that starting Dec. 15, they’re boosting the property value limit for default insurance to $1,499,999.99, increasing the maximum amortization for all insured first-time buyers to 30 years and lifting the maximum amortization for all insured buyers of new construction to 30 years. What does that mean for you.... Borrowers got yet another round... [read more]

The 30 Year Amortization Is Back!

Saturday Aug 3rd, 2024

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30 Year Amortization

The Canadian government has introduced a new initiative allowing some first-time home buyers to extend their mortgage amortization from 25 to 30 years. This change, effective from August 1, aims to make monthly mortgage payments more affordable. Here’s what you need to know about this new plan and how it could impact home buyers, sellers, and investors in the Greater Toronto Area (GTA). What’s the Change? As of August 1, first-time home buyers in Canada can now opt for a... [read more]

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