What 1st Time Buyers Need to Know for 2010
Are you planning to Buy your 1st Home in 2010?
At the moment the Canadian Mortgage rule’s are: Minimum 5% down payment and 35 year maximum mortgage.
If you have been watching the news the Canadian Federal Government is considering increasing the down payment to 7% or 10% and reducing the maximum mortgage to 30 or 25 years. This could happen very quickly in the next 2 to 3 months if the government acts.
These new mortgage rules will delay or stop 1st time buyers moving into the Calgary housing market and force
them to stay in rental property for the next year or two. Is that what you want?
So please take notice & talk to your bank or call me for help with mortgage pre-approval.
I work with TD Canada Trust and can get you very low rates, below posted rates.
I am experienced Calgary Realtor & can show you any Home for Sale on the Calgary MLS, so please email or
call me at 403 608 5682 to view Homes for Sale.
Happy New Year Geoff.