Mortgage Update

General

Debbie Ashcroft | April 20th, 2010

Update on the new government rules.

The Short Version is:

All buyers must qualify on the 5 year rate
20% down is needed for investment properties
The max refinance LTV is now 90% from 95% and
This is not immediately obvious, if buyers choose to go on the variable rate, and not the 5 year fixed rate, they will lose 10% - 15% of their buying power.

Rates are going to go up again.

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Mortgage Update

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