Anu Khullar
- RE/MAX River City
282 Calgary Trail NW, Edmonton, Alberta
P: 780-439-7000
F: 866-293-5424
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282 Calgary Trail NW, Edmonton, Alberta
P: 780-439-7000
F: 866-293-5424
Preferred Group with RE/MAX River City - BLOG
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Wednesday, July 4, 2012 - Canada's Mortgage Rules Tightening
Effective July 9, 2012, the rules for government-backed insured mortgages will tighten in Canada.
Canada?s Finance Minister Jim Flaherty has announced that:? The maximum amortization period for government-backed insured mortgages will be reduced to 25 years from 30 years.
? The maximum amount that an individual can borrow when refinancing will be lowered to 80% from 85%.
? The federal government will set a maximum for gross debt-service ratio (GDS) at 39% and lower the maximum for total ...
posted in #1 TOP ARTICLES at Wed, 04 Jul 2012 15:59:26 +0000
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