– 30 year amortization will now be available for default insured mortgages with loan to value greater than 80% for:
* First-time home buyers purchasing a resale property
* All clients purchasing a new construction
– Maximum property value or purchase price for all default insured programs will increase from less than $1 million to less than $1.5 million.
These federal government changes will help with affordability and getting more Canadians into their own homes!
Do not hesitate to reach out to me, if you have any questions or looking for advice.