🚨 Big News for Canadian Homebuyers! 🚨

🚨 Big News for Canadian Homebuyers! 🚨 As of December 16, 2024, new mortgage rules are in effect, making it easier to own a home! 🏡 Here’s what’s changed: ✅ The insured mortgage cap is now $1.5M (up from $1M), meaning you can qualify for insurance on higher-priced homes with a smaller down payment. 💸 ✅ 30-year amortizations are now available for first-time homebuyers and new build purchases, making monthly payments more affordable! 💰 But don’t forget, if you’re putting down less than 20%, you’ll need to pay CMHC insurance. Here’s how it breaks down: 5% down payment = 4% insurance premium 10% down payment = 3.10% 15% down payment = 2.80% These changes could open doors for many Canadians, but it’s important to understand the details. 💡 Have questions? Drop them below or reach out today! #andymaan #andymaanrealtor #andymaansells #realestate #canadianrealestate #mortgagetips #firsttimehomebuyer #homeownership #realestatenews #realestatetips