Lethbridge Real Estate: Recent Mortgage Changes
By Kristie Kruger, Kristie Kruger & Associates
Lethbridge Real Estate: Recent Mortgage Changes A phrase we hear a lot in Canada: "There's been recent mortgage changes". Well there's been talk about these changes for ages, here's the summary: No more 35 year amortizations. 30 year MAX! Loan to Value Ratio's allowed are also being decreased from 90% to 85% The truth of the matter is that these aren't absurd changes. What we don't want to see is buyers getting in over their heads and winding up in foreclosure. There's been talk about these changes for probably over a year, but I think it's a wise move.