Bob Sethi, B.Comm | 604.273.2828


New Mortgage rules coming!

New, tighter mortgage rules coming!


The Goverment of Canada has announced new, tighter mortgage rules effective March 18, 2011 with the goal of keeping Canadians out of unmanageable debt


New mortgage rules include:
  1. 35-year mortgage amortization period reduced to 30-years maximum;
  2. 90% mortgage loan to home value reduced to 85%; and
  3. Home equity loans no longer backed by the goverment.
The above changes are meant to encourage more Canadians to secure their financial position before buying and limit extra secured loans to home improvement projects. 
If you would like to purchase a home or investment property under the current rules, or want to know how this will affect your home equity loan, give me a call at 604-273-2828 or email


No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Your email will not be published
Your Email: *
Comment: *
Please type the text as it appears above:
Bob Sethi, B.Comm
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

Why Sign Up?

  • Save your Listing Searches
  • Email Alerts on new Listings
  • See new listings sooner
  • Tag your Favourites for later

Already a Member?

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.