Remax sarnia realty inc., Brokerage
1319 Exmouth St. Sarnia,
ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market

Canada’s Mortgage Rules Tightening

no Comments In Mortgage

Thinking of buying or selling?  Think again, the mortgage rules are tightening across the country. Minister Flaherty stated the single most important reason for tightening was the debt to household income at 153%. The changes include:

  • Maximum amortization period for government-backed insured mortgages are reduced to 25 year amortization
  • Refinances lowered to 80%
  • Total debt servicing reduced to 44%

These are just some of the changes impacting your buying and selling decision. In other Announcements the regulating body for banks in Canada (OFSI) has reduced the Secured line of credit rates down to 65% Loan to Value and qualifying rates for mortgages. In these times of changing markets you have to talk with a knowledgeable mortgage specialist to guide you through these decisions.

Ryan Gervais

Ryan Gervais is a full time multi-award winning agent who is here to help you through your real estate journey. Ryan's main passion is to protect his clients greatest investment by making sure you buy a great house for a fair price. Reach out today and see for yourself the difference a great agent can make.

(519) 381-4055

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