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blog address: http://highgateproperties.ca/
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member since: Mar 2, 2016 | Viewed: 953
Who’s Affected by the Minimum Down Payment Increase?
Category: Real Estate
The new mortgage rules which were announced in December came into play sooner than anticipated. Finance Minister Bill Morneau states that buyers purchasing any home with a price tag of $500,000 or higher are subject to the new rule, and will need to pay a minimum of 10 per cent of the insured mortgage—double the original down payment minimum.
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