Archive for February, 2011

New government guidelines and how they affect borrowers

Courtesy of Jackie Bowen, Mortgage Broker Effective March 18, 2011, the following changes will be in effect: Maximum Amortization on mortgages higher than 80% Loan to Value will be 30 years (currently 35yrs) Maximum Amount an existing home owner can refinance to will be 85% (currently 90%) CMHC will no longer insure Secured Lines of […]