Higher Down Payments - on Home Mortgages - Feb 15, 2016

Are you looking to buy a home this year but don't have a large down payment?  If you want to buy with 5% down there is still a bit of time. Call me today and we'll start your home search, set you up with a mortgage professional and ensure your paperwork is processed before the Feb 15th deadline so everything goes smoothly. 

Call Irene today. 416 523 3425

As of Feb 15, 2016 new mortgage loan applications received will require additional down payment for homes over $500,000 and under $1M (typically homes $1M and more require 20% down).  All applications received prior to Feb 15 and have a mortgage in place before July 1, 2016 may still be eligible for the minimum 5% down payment.

For more information refer to Dept of Finance Q and A:  Finance Canada