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Who’s Affected by the Minimum Down Payment Increase?
Added On:
Thu 03/Mar/2016
Last Updated:
Thu 03/Mar/2016
Blog Name:
Who’s Affected by the Minimum Down Payment Increase?
Description:
The new mortgage rules which were announced in December came into play sooner than anticipated. Finance Minister Bill Morneau states that buyers purchasing any home with a price tag of $500,000 or higher are subject to the new rule, and will need to pay a minimum of 10 per cent of the insured mortgage—double the original down payment minimum.
http://highgateproperties.ca/what+is+the+mortgage+down-payment-increase
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