The Government announced on January 17th that they will be making changes to their government backed mortgages.  Namely, any mortgage that has less than 20% as a downpayment (with a few exceptions).  The changes are very important and may affect you.  They are as follows:

Decrease amortization from 35 years to 30 years effective March 18th 2011

For most of my clients this does not mean you are…

Minister of Finance, Jim Flaherty announced 3 new mortgage rules to take effect on April 19, 2010. Keep in mind that these apply to Government backed mortgages – CMHC insured. Here are the rules which are excerpts from the announcement , the breakdown, and how they will impact Canadians:

1. Require that all borrowers meet the standards for a five-year fixed rate mortgage even if…

Dreaming of a renovation? Here are five steps to make it a reality….

Five Steps to your Dream Reno – PDF