www.larryszpirglas.com

  • Home
  • Listings
    • Our Listings
    • Realtor.ca
    • Royal Le Page
  • About Royal LePage
    • Buying Tips
    • Selling Tips
  • About Larry & Christine
  • Contact
  • Blog

NEW DOWN PAYMENT RULES

1/4/2016

0 Comments

 
New down payment rules to take effect on February 15th
In a bid to cool overheated portions of the housing market, Canada Mortgage & Housing Corp (CMHC) is implementing increased down payment requirements for government-insured mortgages effective February 15th.  The change will only affect higher-priced properties in excess of $500,000.  Here's how it will work;
the first $500,000 of purchase price will require the current 5% minimum down payment;
and the portion above $500,000 will now require a 10% down payment. 
So, for example, a $700,000 home will now require a minimum $45,000 down payment in order to qualify as a government-insured mortgage (or 6.4% of the purchase price).

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    August 2020
    May 2020
    April 2020
    February 2020
    March 2019
    February 2019
    December 2018
    November 2018
    October 2018
    September 2018
    July 2018
    May 2018
    April 2018
    April 2017
    May 2016
    March 2016
    January 2016
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    May 2015
    April 2015
    March 2015

    Categories

    All

    RSS Feed

​C
Picture
 Re
  Larry Szpirglas - REALTOR®
  Residential / Commercial Real  Estate

  Christine Kiriakopoulos - 
REALTOR®
   Residential Real Estate


  Royal LePage State Realty Brokerage
  1122 Wilson Street W.
  Ancaster ON  L9G 3K9
  Ph (905) 648-4451
  Fax (905) 648-
7393   
  larryszpirglas@royallepage.ca
​  christinek@royallepage.ca
​
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Contact Us
   Listings  
Picture
    Larry Szpirglas - Realtor
    Residential / Commercial

    Royal LePage State Realty Brokerage
    1122 WILSON STREET W.
    ANCASTER ON  L9G 3K9
    (905) 648-4451
    Real Estate License # 4710510


Picture
 Subscribe 
Contact Us
Website by web4mobile

BACK TO TOP

© www.web4mobile.ca 2015