New Mortgage Rules1. All borrowers must meet the standards for a 5 year fixed rate mortgage, even if they chose a lower interest or shorter term mortgage. 2. The maximum amount one can withdrawal in re-financing their mortgage will be reduced to 90% from a current 95% of the value of one' home. 3.Non-Owner occupied properties will require a minimum Down payment of 20% No other changes to current down payment requirements or length of amortization are in effect.
Posted by Marcus Kallweit
on February 18, 2010
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