Breaking News Re: Mortgage Update!

Under Community, Real Estate


Written by

Written on September 12th, 2019

I know we just gave you Jake’s take on the current mortgage situation BUT something exciting happened today. Please read Jake’s comments below:

Hello!

Holy Smokes!

You know how we all poo-poo’d the CMHC Shared Equity Program because it only allowed us to go to a limit of $480,000?
Well guess what?
IF the Liberals are elected, they will raise this limit to $789,000 from $480,000 for the “GREATER TORONTO AREA” (and other areas we don’t work in).
#MICDROP

Whoa.
Will update when I see/hear more.
This is GREAT news, for Toronto. It’s realistic, it works for the condo market especially, it’ll help first-time buyers a LOT, and it creates positive spin in the media. I’m all in!
Jake

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Jake AbramowiczE: Jake@mortgagejake.comC: 416 910 4448