New Mortgage Qualifying Rates

This new change makes it slightly more difficult for those who are planning to put 20% or more down for their mortgage downpayment or want to refinance.

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THE 2019 FEDERAL BUDGET: NOT WHAT WE WERE EXPECTING

  The federal government released their budget yesterday and honestly, we are shaking our heads. In the continuing saga of our nation’s housing discussion is the announcement of the First-Time Home Buyer Incentive Plan. Under the direction of the Canada Mortgage and Housing Corporation (CMHC), $1.25 billion is going to be used over three years to help first-time home buyers through a shared equity mortgage. First-time home buyers contribute the minimum five per cent down payment while the government will also contribute up to 10 per cent making the total mortgage amount less. Here is the example from the Budget…

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