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New Down Payment Rules in Canada

10% is now required on the portion between $500,001 and $999,999.

We don’t expect this to a have significant impact. Presently Canada Mortgage Professionals suggest that First Time Home Buyer’s put down an average of 21%. Less than 10% of mortgages valued over $500k will be affected.

Please contact your Dreyer Mortgage Professional for more information about your Vancouver home financing.