December 15th, 2024 Mortgage Rule Changes.

Saturday Dec 14th, 2024

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On September 24, 2024 The Government of Canada announced significant changes to the mortgage rules qualifications. The two changes are: Increasing the $1M price cap for insured mortgages to $1.5M. Expanding the eligibility for the 30-year mortgage amortizations to all first-time home buyers, and to all home buyers of preconstruction homes.   Increasing the $1M price cap from $1M to $1.5M for insured mortgages. This is a significant change for buyers who could afford... [read more]

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