хоумбайерам на заметку: lowering of mortgage threshold ...
Добавлено: 07 май 2007, 14:27
... другими словами, CMHC Insurance уже не нужна если есть 20% даунпеймента, а не 25% как раньше ...
Banks applaud lowering of mortgage threshold
TORONTO — Canada's big banks are applauding new legislation that lowers the required down payment for mortgages.
The federal government said Friday it is lowering the minimum down payment requirement for mortgage default insurance from 25 per cent to 20 per cent. The new legislation is part of Bill C-37, expected to be proclaimed next week.
Bank of Montreal says home buyers could save an average of $2,500 in insurance premiums, based on an average home price of $300,000.
“We see a number of customers scrambling to meet the 25 per cent down payment, in order to avoid paying the insurance premium,” said BMO vice-president Cid Palacio. “These changes will allow those home buyers to reduce their down payment and get into their new home faster.”
The new limit also affects individuals who intend to refinance their mortgages.
Banks applaud lowering of mortgage threshold
TORONTO — Canada's big banks are applauding new legislation that lowers the required down payment for mortgages.
The federal government said Friday it is lowering the minimum down payment requirement for mortgage default insurance from 25 per cent to 20 per cent. The new legislation is part of Bill C-37, expected to be proclaimed next week.
Bank of Montreal says home buyers could save an average of $2,500 in insurance premiums, based on an average home price of $300,000.
“We see a number of customers scrambling to meet the 25 per cent down payment, in order to avoid paying the insurance premium,” said BMO vice-president Cid Palacio. “These changes will allow those home buyers to reduce their down payment and get into their new home faster.”
The new limit also affects individuals who intend to refinance their mortgages.
