Many of our clients have asked, so here in a nut shell are the mortgage changes:

* Buyers will be qualified for a mortgage based on their financial ability to handle payments based on a five-year, fixed-rate mortgage, even if they select a shortrt term and a lower rate.

* For those looking to refinance, they will now be limited to 90% of the value of a property instead of 95%.

* When financing a non-owner occupied property (rental), a down payment of 20% will be required if the mortgage is to be insured.

Now, more than ever we want to assure our clients are getting a competent and professional advice. Please let us know if you have any questions. We will be sure to find you accurate answers.