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mortgage changes

Down Payment Changes Ahead

Effective February 15, 2016, Canada will have new down payment requirements for purchasing residential homes.  For properties selling between $500,000 and $1 million, people getting an insured mortgage will now need to put more down—up to an additional 2.5% of the purchase price. In other words, 5% down will be required on the first $500,000, […] Continue reading