New Canadian Mortgage Rules and the Summerland & Penticton Real Estate Market

By
Commercial Real Estate Agent with BusCom Real Estate Services
New Canadian Mortgage Rules and the Summerland & Penticton Real Estate Market 
  1. New qualifying standards will mean borrowers in Summerland & Penticton must be able to handle a five-year, fixed-rate mortgage, even though they may opt for a shorter term and lower rate.
  2. Refinancing homes in Summerland & Penticton will now be limited to 90 per cent of the value of a property, down from 95 per cent.
  3. A minimum down payment of 20 per cent will be required for government-backed insurance on properties in Summerland & Penticton not lived in by their owners, up from 5 per cent.
Jim Flarety
New Canadian Mortgage Rules and the Summerland & Penticton Real Estate Market 

 

Posted by

 

 

 

Raymond MAASKE, BBA, CCC, ACRE

 

 

 

Confidential Business Broker & Commercial Real Estate Services

 

 

 

Direct: 250.878.2218

 

 

 

Email:  RaymondMAASKE@gmail.com

 

Website:  www.BusComRealEstate.com

 

Who we are:  Intro Video

 

 

 

We are a full service CONFIDENTIAL Business Brokerage & Commercial Real Estate Company specializing in the sale of business and commercial property. We help business and commercial property owners sell their business and commercial property in A CONFIDENTIAL & PROFICIENT MANNER to a QUALIFIED BUYER.

 

 

 

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