Friday, February 22, 2008
Mortgage Terms Changing
The mortgage terms are changing dramatically for today's consumer. Today client's have the choice of going up to 40 years as an amortization period. Zero down payment mortgages are available along with being able to buy a rental property with five percent down payment. You can also now have a line of credit up to ninety percent of the value of your home. This is just a small sample of the positive changes the lenders and insurers are doing to help more Canadians purchase homes. These products also allow consumers to better manage their mortgages as financial tools vs a debt tool.