ITS COMING !!! NEW MORTGAGE REGULATORY CHANGES
* TIME IS RUNNING OUT!!
For buyers, if you want to take advantage of qualifying for your mortgage before the rules change time is of the essence . Buyers have until APRIL 19TH 2010 to qualify before the following new changes come into effect;
. Qualifying interest rates guidelines will change as follows:
. HELOC'S, and Fixed Rate Mortgages of terms less than 5 years and all Variable Interest Rate Mortgages: Applications will be adjudicated based on the greater of the 5 year Bank of Canada Benchmark Rate, OR the actual customer rate (inclusive of any customer discretion).
. Fixed Rate Mortgages of terms 5 years or greater: Applications will be adjudicated based on the actual customer rate (inclusive of any customer discretion).
. This change applies to both conventional and insured mortgages.
So take advantage now and call me to find your Dream home today !!