The You First Blog

Mortgage Rule Changes

January 19, 2011
Financial Planning
Anthony Sabti

Finance minister Jim Flaherty announced changes to mortgage lending rules which will take effect March 18, 2011.  The three changes are: 1. For CMHC insured mortgages (those with less than 20% down payment), the maximum amortization period decreases from 35 to 30 years. 2. The maximum amount of equity Canadians can borrow from their home… Read More