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Exceptional service |
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Great Rates |
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Refinancing |
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Home Loans |
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Government of Canada Mortgage Changes |
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On January 17th, the Department of of Finance announced changes to the mortgage industry effective March 18, 2011. These changes are:
- Reducing the maximum amortization period from 35 years to 30 years for mortgages with a down payment of less than 20%; and
- Lower the maximum amount that you can borrow when refinancing from 90% to 85% of the value of your home.
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