🏠 **Exciting News for Homebuyers!** 🏠
The Canadian Government has announced major updates to mortgage rules aimed at making home ownership more accessible for Canadians. Effective as of December 15, 2024.
🔹 **Price Cap Increase:** The limit for insured mortgages will rise to $1.5 million from $1 million, helping more buyers qualify with less than a 20% down payment.
🔹 **Expanded Amortization:** The 30-year mortgage option will now be available to first-time buyers of any type of home, plus those buying newly built properties.
These changes are part of the government’s effort to address high housing costs and support first-time buyers. Stay tuned for more updates and let’s see how these reforms shape the housing market!
#HomeOwnership #MortgageReforms #HousingAffordability
Download my mortgage App.

Call: (778) 319-5744
E-mail: Codychambers@dominionlending.ca