|Address||Belleville, ON, Canada
As of October 17th, 2016 all insured mortgages, regardless of term or type, will be required to qualify at the bank of Canada posted rate.
To put that in perspective.
Family Income $80,000
Monthly Debts $500
Property Taxes $3,500
25 year term
(Qualification rate today is 2.39% and after will be 4.64%)
Today that family can buy a home worth approx. $393,000 but after the 17th that drops to $310,000. For those thinking of refinancing that is a $83,000 Equity Seizure.
How much are you equity are you willing to lose $$$ ?
Take your money out Now !! Before the bank does !!!
Call Me for a FREE Consultation
Direct ph. 647 523 1859