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Old 12-11-2015, 08:01 AM
Mortgage Made Easy Mortgage Made Easy is offline
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Exclamation Breaking News - Mortgage Down Payment Change

Breaking News - Finance Minister Bill Morneau announced the plans to increase down payment effective Feb 2016.

http://bit.ly/1OW633a
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Kardia Mortgage Inc
www.timlacroix.com
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Old 12-11-2015, 08:47 AM
Mortgage Made Easy Mortgage Made Easy is offline
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Just a little clarity on the change. The down payment change is:

5% up to $500,000 purchase
10% of the amount over $500,000 up to $1M

Example: $750,000 purchase will require a down payment of $25,000 on the $500k and $25,000 on the balance of $250k.
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Thanks,
Tim
403-648-1541
Mortgage. Made Easy Experts
Kardia Mortgage Inc
www.timlacroix.com
aoforum@cgymortgage.com

Click here to View current Mortgage Rates

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  #3  
Old 02-08-2016, 08:45 AM
Mortgage Made Easy Mortgage Made Easy is offline
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Reminder - New Down Payment Rules Effect Feb 15, 2016

Click to find out more about Will Higher Down Payments Affect Your Home Purchase?
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Thanks,
Tim
403-648-1541
Mortgage. Made Easy Experts
Kardia Mortgage Inc
www.timlacroix.com
aoforum@cgymortgage.com

Click here to View current Mortgage Rates

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  #4  
Old 02-21-2016, 05:20 PM
Mortgage Made Easy Mortgage Made Easy is offline
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We are getting lots of questions about the down payment rule change. Many people are thinking that they now need 10% for any purchases over $500,000.

The minimum down payment is 5% of the $500,000 and 10% of the balance over $500,000.

To view a table on down payment and read more, please see our article Will Higher Down Payments Affect Your Home Purchase?
__________________
Thanks,
Tim
403-648-1541
Mortgage. Made Easy Experts
Kardia Mortgage Inc
www.timlacroix.com
aoforum@cgymortgage.com

Click here to View current Mortgage Rates

Reply With Quote
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