peterborough real estate: Changes to Mortgage Rules - 03/16/11 11:29 AM
The Government of Canada announced adjustments to the rules for government-backed insured mortgages. These changes are an effort to address concerns about the increasing levels of Canadian household debt. They are designed to ensure that homebuyers don’t risk their financial security by buying more than they can afford.
So what do these adjustments mean to the average homeowner?
Here’s a look at the new rules that were announced by Finance Minister Jim Flaherty:
Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.
By reducing … (1 comments)

peterborough real estate: Why should you get pre-approved before you start to browse - 03/04/11 11:07 AM
Getting pre-approved before you start your house hunt provides you with an edge over other prospective buyers, saves you time and can spare you the disappointment of falling in love with a home you cannot afford. First, there is a difference between being pre-qualified and pre-approved. Pre-qualification refers only to the amount for which you might expect to be approved, and is not an in-depth evaluation or your credit report.

Getting pre-approved is the next step and more involved, as a lender performs an extensive check on your financial background and current credit rating. The lender can tell you the … (0 comments)

 
Chris_salmans

Chris Salmans

Peterborough, ON

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Century 21 United Realty Inc.

Address: 387 George St South, Peterborough, ON, K9J 3E1

Office Phone: (705) 743-4444

Cell Phone: (705) 768-9912

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