Recently, the Canadian government announced that starting from July 9th, the new mortgage rules will take effect. 

These new rules will possibly make more challenge for Canadians for mortgage.

What are the change from home buyers?

  1. The maximum amortization period is being reduced from 30 to 25 years.
    This may increase your monthly mortgage payment, while decreasing the maximum amount you qualify to borrow.
  2. Homeowners will only be able to borrow 80% of the value of their home instead of the previous 85%.
    This means homeowners must now have at least 20% equity in order to re-finance their home.
  3. The gross debt service ratio will increase from 32% to 39% and the total debt service ratio from 40% to 44%.
    This means you can now have a larger debt load compared to your gross income helping to balance the new shorter amortization period. This is a benefit to buyers.
  4. The government will no longer insure homes that are worth more than $1 million
    This means that buyers will have to put at least 20% down or seek private insurance.

最近,加拿大政府宣布,從7月9日開始,新的抵押貸款規則將生效。

這些新規則將有可能使更多的按揭加拿大人的挑戰。

購房者有什麼變化?

最大的住房抵押貸款持續時間期限正在減少從30年到25年。

這可能會增加你每月的按揭付款,同時降低你有資格借的最高金額。

房主將只能借他們的家庭價值的80%,而不是先前的85%。

這意味著房主現在必須有至少20%的首期,以資助他們的家庭。

還本付息總額的比例從32%提高到39%,債務總額的比率從40%到44%。

這意味著你現在可以有一個更大的債務負擔相比,您的總收入,有助於平衡新較短的攤銷期限。

政府將不再保證房子的價值超過100萬美元

這意味著,買家將不得不把至少20%或尋求私人保險。