The Canadian government announced today it will be increasing the minimum down payment on insured mortgages for homes priced above $500,000 starting February 15th, 2016. The down payment for the first $500,000 will still remain at 5%, but there will be an additional 10% required for the remaining portion above $500,000. For the official statement: http://www.fin.gc.ca/n15/15-088-eng.asp The post FEBRUARY 15, 2016: IMPORTANT NEWS! appeared first on Andy Schildhorn, PREC.
The Canadian government announced today it will be increasing the minimum down payment on insured mortgages for homes priced above $500,000 starting February 15th, 2016. The down payment for the first $500,000 will still remain at 5%, but there will be an additional 10% required for the remaining portion above $500,000.
For the official statement: http://www.fin.gc.ca/n15/15-088-eng.asp
The post FEBRUARY 15, 2016: IMPORTANT NEWS! appeared first on Andy Schildhorn, PREC.
