Mortgage Related News
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Good News For First Time Homebuyers
Starting today, December 15th, two exciting changes are here to make homeownership more accessible for those with less than a 20% down payment. 30 Year Amortization for Resale Properties and Purchase Price Limit Increased to 1.5M.
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New actions to build secondary suites and unlock vacant lands to build more homes
Govt. unveiled a series of initiatives to encourage the construction of secondary suites and unlock underused land for housing. These changes present incredible opportunities for homeowners and our communities.
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Registered Retirement Savings Plan (RRSP) Withdrawl Limit Increase to $60,000
The government announced an increase in the maximum amount that first-time homebuyers can withdraw from their Registered Retirement Savings Plan (RRSP) to buy a home. The previous limit was $35,000, and it has been raised to $60,000, effective for withdrawals made after March 19, 2019.