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Lindsay Oulette
ROYAL LEPAGE NORALTA REAL ESTATE
202 Main Street, Spruce Grove, Alberta
P: 780-962-4950
F: 780-962-8019
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Monday, January 17, 2011 - NEW MORTGAGE RULES FOR CANADA

The new measures effective March 18, 2011:   ?Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire. ?Lower the maximum amount Canadians can borrow in ...

posted in General at Mon, 17 Jan 2011 09:34:23 -0700



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Lindsay Oulette
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