Real estate blog entries tagged with no money down by Robert Morrow (Chase Realty Inc. Brokerage)

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Home : Blogs : Robert Morrow : Hamilton Home Review-Robert J. Morrow, editor : Tag "no money down"

no money down: Last chance for 100% financing - 09/11/08 01:06 PM

On July 9, 2008 the government of Canada anounced it will no longer be insuring 40 year amortization or 100% mortgages effective October 2008. They have also announced there will be new minimum beacon scores for insured borrowers and more stringent confirmation on income. This potentially affects the stated income business for self borrowers. Canada Mortgage and Housing (CMHC) has not released anything yet but we anticipate they will do so soon.
This means that borrowers must have 5% down and their mortgage can only be amortized up to 35 years, as of October 15, 2008. If you know anyone that needs … (0 comments)

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Robert Morrow

Hamilton, ON

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Chase Realty Inc. Brokerage

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Blog by Hamilton Home Review's editor, Robert J. Morrow, a licensed Realtor with Chase Realty Inc., in Ancaster, ON, Canada.

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