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