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Renata & Ziggy Trawinski
IQ Real Estate
Buying & Selling, Calgary, Alberta
P: 403-208-2368
F: 403-776-6075
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Monday, April 12, 2010 - Mortgage changes

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.

posted in Real Estate News at Mon, 12 Apr 2010 14:20:41 -0600



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