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Victoria BC Real Estate WARNING !!-Home Buyers-Get Your Mortgage Pre Approval Before April 19th
The Federal Government is changing the Rules for Qualifying for a New first Mortgage in Canada.
Effective April 19th, all new mortgage applications must be qualified with a 5 year term mortgage, some at the 5 year discounted interest rate and others at the higher Bank Posted Mortgage interest Rates which will be set weekly by the Bank of Canada which are about 2% higher...so who get which mortgage interest rate and How do you Qualify after April 19th for a Mortgage in Victoria?
So I called a well known Mortgage Broker Desiree Palfrey for her explanation of the changes for New mortgage Applications..... be sure to call Desiree if you have any questions about applying for a mortgage before or after the New mortgage qualification rules Apply.
Here is My Complete Post on my Victoria Real Estate Voice Blog
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