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Federal Government Changes Home Owner OptionsClick here for the Globe and Mail article. Basically 4 main topics:
1. 35 years is the longest amortization period;
2. if investing you must put 20% minimum down payment;
3.if re-financing you can get 90% of your equity as compared to previous 95%;
4.home buyers must qualify to make payments on a 5 year term, but can still take whatever term they want.
Posted by Pauline Relkey
on February 17, 2010
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