Starting today, bold mortgage reforms in Canada are making homeownership more accessible for Millennials and Gen Z. The federal government has increased the insured mortgage price cap from $1 million to $1.5 million, reducing downpayment costs by up to $165,000 on high-priced homes. Additionally, new 30-year mortgage amortizations are available to all first-time homebuyers and those purchasing new builds, lowering monthly payments by hundreds of dollars. These historic changes are part of Canada's most ambitious housing plan, aiming to build 4 million new homes and support future homeowners. These reforms also build on a strengthened Canadian Mortgage Charter, offering more flexibility and savings for Canadians struggling with home affordability.
Source: https://www.canada.ca/.../boldest-mortgage-reforms-in...
Take advantage of these changes and make your homeownership dreams a reality. Contact us now at 📞416-806-9225.
✨Expert Advice, Expert Results.✨
#breakingnews #toprealtor #filipinorealtor #rccrealestategroup #topfilipinorealtor #romeochadleycrisostomo #harveykalles #goodnews #investnow #gtarealestate #torontorealestate #RealEstateMagic #RealEstateAgent #RealEstateSuccess #NewBeginnings #2024
