New Mortgage rule changes:
Maximum 25 year Amortization - Pretty self explanatory.
Maximum Purchase Price of $1,000,000 on High Ratio Deal - This has represented only 35% of the insurer's portfolios, not a big change here.
Maximum GDS 39% and TDS 44% - The buying power would decrease around 10% as compared to before.
Maximum 80% of LTV of refinances - Can now only access 80% of the home equity
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
Comments:
Post Your Comment: