New Mortgage changes
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
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