Buyers only need 20% downpayment for Conventional Mortgage Home Financing- Amendment to the Bank Act!
The Bank Act was recently amended to allow banks to move from 75% to 80% maximum loan to value without requiring mortgage default insurance.
20% down now qualifies as Conventional Financing.............No CMHC or GE premiums
This good news for buyers!
posted by Helen Gambling @ 1:35 p.m.
2 comments
2 Comments:
Great post regarding real estate, thanks
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This sounds really interesting. I haven’t heard about anything like this previously. I have huge interest in real estate. Thanks
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