Real Estate

CANADA MORTGAGE DOWN PAYMENT RULES CHANGES

On December 11, 2015, the Canadian government announced changes to the Minimum Down Payment required for home buyers.   Minimum 5% down payment increase The minimum 5% downpayment requirement has been increased for properties over $500,000. Properties under $500,000 can still be bought with 5% down payment. Effective Dates for the New Canada Mortgage Rules Effective immediately (Dec 11th –...

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