Month: September 2024

The federal government has announced two big updates to updates to CMHC eligibility for First-Time Homebuyers. Whether the changes are an effort to garner votes, or increase affordability is up for debate.

 THE FIRST UPDATE: INCREASE TO THE MAXIMUM VALUE Currently, CMHC-eligible insured or insurable mortgages are limited to home values of $1 million. The […]

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There was a recent announcement from the Federal Government regarding the maximum amortization for insured mortgages for First Time Home buyers when purchasing newly built homes, up to 30 years, from the current maximum of 25 years. This change is effective August 1st, 2024. This change is in addition to the previously announced Tax Free […]

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