More Financing Options Available For Buyers

A recent Toronto Star article talks about the different financing options now available to home buyers. The article discusses:

- You can now pay off your mortgage over 30 to 40 years, instead of up to 25 years as before.

- You can now get a conventional mortgage by putting down 20 per cent of the purchase price.

- You can now qualify for a low-down-payment mortgage if you’re self-employed or work on commissions.

- You can now qualify for a mortgage if your total debt load is more than 40 per cent.

- You can now put down only 3 per cent of the purchase price.

Here is a link to the article written by Ellen Roseman:

40-year mortgages have arrived

www.bytheowner.com

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