Changes to Mortgage Industry
August 6th, 2008Please note that as of Oct.13/08 100% mortgages (no down payment) and 40 year ammortized mortgages will not be offered in Canada. Instead, the maximum loan to value (LTV) will be 95% (5% down payment) and a maximum 35 year ammortization will be available. This change is not major but will affect those without a down payment. If you are looking to get into this type of mortgage I would recomme ...