The government has set March 18 as the last day for 35 year amortizations. This means Lenders will likely stop accepting applications for 35 year amortizations in advance of the March 18 cut off. Approved deals that close after March 18 can still have 35 year amortizations as long as the deal is approved by CMHC/Genworth prior to the date (assuming the lender accepts the deal). Call us if you want to find out how you can benefit from this change. Time is running out.

I will also be hosting a FREE Buyer's Seminar on Saturday, Feb 19th from 2-3pm at the Royal Bank, 901 Jane Street , Toronto , M6N 4C6 . You will get an update on Financing, Free Government Programs for First Time Buyers that may help increase your down payment by 30% in 90 days, Other Government Incentives, Investing, Distress Sales and an Overview of the National and Local Real Estate Market. Please email me at Ruth@RuthBallantyne.com to register.

Here is some excellent information about the changes for you to review.