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Down Payment Rule Changes

Blog by Morgan DuVernet & Kelsie Struch | December 11th, 2015

Early this morning the Finance Minister announced new down payment ruels for Insured Mortgages taking effect Feburary 15, 2016, 

The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000.

Minimum down payment for properties up to $500,000 will remain at 5%.

If you are thining about buying a property call us today to disucss your options and how this change will effect you. We may be well into the holiday season but the Real Estate market is staying very active!

Morgan DuVernet
Century 21 In Town Realty