Date: October 7, 2024
Category: Blogs,Mortgage Tips & Advice
We all have questions about the new changes
This last month we’ve seen many changes and, we are still waiting for updates from lenders and insurers on how these changes will be implemented.
It can be a little confusing to everyone so here are two dates to keep in mind.
- November 21, 2024, is the date the stress test is removed for all uninsured mortgages.
- December 15, 2024, when all purchases to $1,499,999 will be insured mortgages; meaning you can purchase with less than 20%.
- 30-year amortization starts for all first-time home buyers and buyers of newly built homes.
To understand all the changes and how they will apply to your particular situation, we’ve created a guide. This is not meant to be a full in-depth guide, but an easy-to-follow guide that gives you an overview.
As always, I invite you to connect and review your options 📞.
Talk soon,
Ana
Mortgages can be complicated; we are here to help you make “cents” of it.
We focus on Mortgage Solutions, Period!
To learn more connect with Ana Cruz 905.870.0513 or email at ana@askanacruz.ca
