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Tag Archives: mike stewart
March 18 Mortgage Changes & Vancouver Real Estate 2 of 3 Maximum Refinancing Reduced to 85% Loan To Value
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March 18, 2011 Department of Finance Mortgage Changes Part 2 of 3 – Reduced Refinancing Maximum Loan to Value
In January 2011, Canada’s Department of Finance announced a series of changes to the lending rules for Mortgages that will come into effect in on March 18, 2011 and April 13, 2011.
In part 1 of 3, Jessi Johnson and I discussed how the new rules shortened the maximum amortization from 35 years to 30 years for high ratio mortgages. In part 2 of this series Jessi Johnson will explain the changes to the refinancing rules.
Call in Jessi Johnson, Mortgage Specialist!
Like I always do, when I don’t know the answer, I call in the expert and this case, Jessi Johnson a Vancouver Mortgage Broker has been kind enough to meet with me and explain the new rules.
What does Loan to Value (LTV) mean? Continue reading
Posted in: For Buyers, For Sellers, Vancouver Real Estate and Mortgage Financing
Tags: 2011 Mortgage Refinancing Rule Changes, Cooling Canada's Real Estate Market, Department of Finance Mortgage Rule Changes, Department of Finance Refinance Rule Changes, Interest Rates and The Canadian Dollar, Jessi Johnson Mortgage Broker, March 18 2011 Refinancing Changes, Maximum Loan to Value Ratio Canada, mike stewart, Reduced Loan to Value, Reduced Refinancing Maximums, Refinancing a Home in Vancouver, Refinancing Vancouver Real Estate, The Bank of Canada and Real Estate, Vancouver Mortgage Advice, vancouver real estate
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New 2011 Mortgage Rules and Real Estate in Vancouver with Mike Stewart & Jessi Johnson Part 1 of 3 Amortization!
The New 2011 Department of Finance Mortgage Rule Changes and Real Estate in Vancouver
Canada’s Department of Finance, which oversees and regulates Canada’s mortgage market which has a huge impact on Real Estate in Vancouver has enacted a new series of measures to cool the property market across Canada. The changes announced on January 17, 2011 are designed to allow the government to cool the Real Estate Market without affecting the overall economy by raising the Bank of Canada’s Prime Rate.
Call in the Expert!
As I am Realtor and not a Mortgage Broker, so I called in the expert to answer my questions on the new rules. Jessi Johnson, a Vancouver Mortgage Broker was kind enough to meet with me and explain the changes in detail.
Since there was sooo much detail, we broke up the discussion on the New 2011 Department of Finance Mortgage Rules and its effects on Vancouver Real Estate into a three part series. In part one of the series we are going to talk about the changes to maximum amortization.
Shortened Amortization for High Ratio Mortgages? Continue reading
Posted in: For Buyers, For Sellers, Vancouver Real Estate and Mortgage Financing
Tags: 2011 Mortgage Changes, Amortization, CMHC Mortgage Insurance, Department of Finance, First Time Home Buyers and Mortgages, Jessi Johnson, March 18 2011 Mortgage Changes in Canada, mike stewart, Mortgage Broker, New Canada Mortgage Changes, New Mortgage Rules, Real Estate in Vancouver and Mortgages, Shortened Amortization, vancouver real estate, Vancouver Real Estate Market Cooling, vancouver realtor
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