Down Payment Rule Change – Dec. 2015

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Finance Minister, Bill Morneau, announced changes to the minimum down payment required on owner occupied homes this morning. Effective February 15th, 2016, homes between $500,000 and $1 Million will have a sliding scale utilized for the minimum down payment required. On the first $500,000 of purchase price, 5% down is still the minimum. On any… Read more »