FIRST-TIME HOMEBUYERS WILL BE SQUEEZED BY NEW MORTGAGE RULES

A first-time homebuyer could need to earn as much as $500 more a month and would have to pay an extra $209 toward their mortgage each month under new mortgage rules that the federal government announced Thursday. The changes, which apply to government-backed insured mortgages, will mostly affect first-time home buyers looking to get into [...]

Jun 23, 2012 | Categories: FOR BUYERS | Tags: 2012 Government Announcement, First Time Home Buyers New Mortgage Rules, July 9 2012 Mortgage Changes, Mortgage Lending Changes, Real Estate Board of Greater Vancouver, REBGV, Reduction of Mortgages from 30 to 25 Years, Tips for Home Buyers, Vancouver Downtown Real Estate | Leave A Comment »