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Monday, January 17, 2011 -

Effective March 18, 2011

Amortization change to max 30 Years on CMHC and GE mortgages, this will impact clients with less then 20% down payment

Maximum 85% financing on refinances (equity take outs NOT on Purchases).

Elimination of government insurance on lines of credit , this product was only available through one or two lenders, and it is important to note that HELOC’s (secured lines of credit) are still available up to 80%.

posted in General at Mon, 17 Jan 2011 12:55:05 -0700

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