More Financing Options Available For Buyers
A recent Toronto Star article talks about the different financing options now available to home buyers. The article discusses:
- You can now pay off your mortgage over 30 to 40 years, instead of up to 25 years as before.
- You can now get a conventional mortgage by putting down 20 per cent of the purchase price.
- You can now qualify for a low-down-payment mortgage if you’re self-employed or work on commissions.
- You can now qualify for a mortgage if your total debt load is more than 40 per cent.
- You can now put down only 3 per cent of the purchase price.
Here is a link to the article written by Ellen Roseman:
