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Real Estate News

New Mortgage Rules

  • Amortization period cannot exceed 35 years
  • Minimum of 5% down on properties to be owner occupied
  • Minimum of 20% down for non-owner occupied properties (rentals etc.)
  • Buyer’s must qualify at the 5 year rate, even though they may select a shorter mortgage term or a variable rate mortgage.

Contact us if you have any questions regarding these new requirements.


Date Added: February 1, 2010 | Comments (0) | Filed under: Real Estate News — admin @ 7:56 am



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