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New Mortgage rules for Canadians


As of March 18th new mortgage rules will be in place making it a little bit harder for 1st time buyers. The biggest change in the new mortgage rules is the maximum amortizations dropping from 35 yrs to 30yrs. Realistically this should only add approx. $100/month, but that $100 may be what prices people out of a new home.  We are happy to see that the gov't didn't increase the minimum downpayment from 5%. Concern was that they were going to increase down payments between 7-10% which would have had a much greater impact on housing sales. Now is a great time to contact us about purchasing a new home!

To read more on this topic, please go to the following link:
http://www.theprovince.com/business/fp/Flaherty+tightens+mortgage+rules/4119505/story.html

This entry was posted on January 17th, 2011 | Posted in General

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About The Team

The Bettina Reid Group was founded in 2010; Kara Berman and Bettina Reid offer their clients a wealth of knowledge and experience. Instead of just one Realtor you have a dedicated team of educated professionals who have specific knowledge about your home and the community you live in.

Our goal is to exceed your expectations and provide you with exceptional customer service every step of the way and beyond.

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The Bettina Reid Group
Homelife Benchmark Realty Cloverdale,
#103 5830 176A Street, Surrey, B.C. V3S 4H5
Office Phone: 604-574-0161
Email: bettina@homelifebc.com

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