1. The maximum amortization period will be 30 years (it currently is 35 years).
2. The maximum LTV on a refinance will be 85% (it currently is 90%).
3. Elimination of government insurance on secured lines of credit (HELOCs)

Here is the official press release http://www.fin.gc.ca/n11/11-003-eng.asp.

Posted By Kevin Somnauth, CFA
http://sudburymortgagebrokers.com

- Qualifying mortgages at the higher rate of the contract rate or 5-year Bank of Canada posted rate (regardless of the mortgage product).

- Self-employed using a stated income program now had to put 10% down for a purchase and 15% for a refinance.

- Non-owner occupied investment properties needed a 20% down payment for purchases.

The government has hinted that they may introduce stricter rules in 2011, to help protect the real estate and real estate finance markets. So although demand for real estate in 2011 is predicted to remain strong, getting financing may prove to be a struggle for some potential buyers.

Posted by Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

Here are the current rates of SudburyMortgageBrokers.com:

5-Year Variable Rate: 2.15%
5-Year Fixed Rate: 3.39%

Posted by Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

Barrie is located in the Greater Golden Horseshoe, the most densely populated area of Canada. The city had a population of 128,430 residents in 2006, making it the 35th largest city in the country. According to the 2006 census, the Barrie Metropolitan area has 177,061 residents, it is the 21st largest, and one of the fastest growing Census Metropolitan Areas in the country.

Barrie has a combination of northen life and city life. Sudbury Mortgage Brokers specializes in home financing in this area. For your mortgage Barrie, contact us. Barrie mortgages include, Barrie mortgage home purchases, refinances and renewals. For you mortgages Barrie, we are your number one broker!

Posted by Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

For a century tourists have traveled to the welcoming shores of Nottawasaga Bay, to explore 14 kilometres of white sand beach, swim in warm, clean waters and enjoy the spectacular mountain views across the Bay.

The town has an excellent variety of accommodations and restaurant choices. Special events are planned every weekend and evening entertainment is vast.

Wasaga Beach is for the person who wants to escape the city life. If you would like to purchase a home in Wasaga Beach, Sudbury Mortgage Brokers (SMB) can help. For your Wasaga Beach mortgage, SMB can offers Wasagea Beach mortgages to secure any property. For a mortgage Wasaga Beach, consider our amazing rates and vast products. Mortgage products include home mortgages Wasaga Beach, refinancing and renewals.

Posted by: Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

Sault Ste. Marie is bordered to the east by Rankin and Garden River First Nation reserves, and to the west by Prince Township. To the north, the city is bordered by an unincorporated portion of the Algoma District, which includes the local services boards of Aweres, Batchawana Bay, Goulais and District, Peace Tree and Searchmont.

To the south, across the river, is the United States and the city of Sault Ste. Marie, Michigan. The two cities are joined by the “International Bridge”, which connects I75 on the Michigan side and Huron Street on the Ontario side. Shipping traffic in the Great Lakes system bypasses the Saint Mary’s Rapids via the American Soo Locks, the world’s busiest canal in terms of tonnage that passes through it, while smaller recreational and tour boats use the Canadian Sault Ste. Marie Canal.

The city’s census agglomeration, consisting of the townships of Laird, Prince and Macdonald, Meredith and Aberdeen Additional and the First Nations reserves of Garden River and Rankin, had a total population of 80,098 according to the 2006 census.

Sudbury Mortgage Brokers offers Sault Ste. Marie mortgages. Mortgages Sault. Ste. Marie include Sault St. Marie mortgage purchase, renewals and refinances. For your Sault Ste. Marie mortgage visit http://sudburymortgagebrokers.com.

Posted by Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

A $120 Million, health care facility was constructed in 1997 adjacent to Georgian College. The location provides easy access for those in need of its services. The hospital provides 297 acute care beds and 270 operational beds. The hospital location adjacent to the college provides a unique opportunity for cooperative training, research and clinical trials, unequaled in North America.

The City is home to a 40,000 sq. ft. state-of-the-art public library, located in Downtown Barrie at the junction of Worsley and Owen Street. Barrie Public Library is open 7 days a week and houses a multimedia collection that serves residents of all ages in the City of Barrie. Alongside usual library services the library also offers free Internet access to patrons, plus a wide variety of adult and children’s programmes. Information Barrie is a service of the Barrie Public Library, providing information about community groups, agencies, government offices, churches, daycare, schools, etc.

If Barrie, Ontario seems like the city for you, Sudbury Mortgage Brokers can help you obtain financing for your Barrie mortgage. Mortgage Barrie products include; home purchase Barrie mortgages, mortgage refinancing, mortgage refinancing mortgages Barrie. So for you Barrie mortgage, visit Sudbury Mortgage Brokers.

Posted By Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

Sudbury is one of the largest municipalities, by area, in Canada with plenty of open space, freshwater lakes, pristine forests and woodlands, parks, recreational facilities and real estate opportunities. With a low population density (only 46.8 people per square kilometre), the GSA offers a unique Northern lifestyle and superb quality of life like no other. The community is inclusive, dynamic and driven by their greatest asset – the people!

The Greater Sudbury area enjoys four seasons – spring, summer, autumn and winter. Because of the seasonal weather conditions, Sudburians are able to enjoy a vast array of festivals, events and recreational activities that can change as the seasons do.

Sudbury Mortgage Brokers offers mortgages Sudbuy! So for mortgage Sudbury on your now home purchase, mortgage renewal, mortgage refinance, think Sudbury Mortgage Brokers. When you think Sudbury mortgages, think about us!

Posted By Kevin Somnauth, CFA
Sudbury Mortgage Brokers (http://sudburymortgagebrokers.com)

If you would like to own a home in Kenora, Ontario, sudburymortgagebrokers.com can help! We offer Kenora mortgages, so you can purchase a home. Mortgage Kenora products include; mortgages Kenora home purchases, Kenora mortgage renewals, and Kenora refinancing. So visit http:// sudburymortgagebrokers.com for home financing today!

Posted by Kevin Somnauth, CFA
Sudburymortgagebrokers.com (http:// sudburymortgagebrokers.com)

In late 1600s, explorers and fur traders established outposts in the north to capitalize on the fur trade. The Hudson’s Bay Company and the North West Company developed trading posts along major routes in northern Ontario. The rivalry between these 2 trading companies resulted in the need to get their furs to market as soon as possible and this led to the development of the Porcupine Trail, a trading route that connected the Abitibi River to the Mattagami River and passed directly through present day Timmins.
Due to provincial Geological Survey reports, construction of the railway northward, and major silver discoveries in Cobalt, the region became a popular destination and home to dozens of prospectors eager to explore the areas around Porcupine Lake. In 1909 2 prospectors discovered the “Golden Staircase”, a rich vein of gold that led to the Dome Mine. Then just in days the Porcupine Gold Rush began, and a huge mining camp formed at Porcupine Lake, a few kilometers east of modern Timmins. The Porcupine Camp is the first localities in the world to have its entire history documented by photography. The renowned Harry Peters photographed the Porcupine Camp from the beginning of its inception, and “The Great Fire” of 1911 was one of his first achievements. Shortly after the completion of a new spur line on the Temiskaming & Northern Ontario Railway, the Great Porcupine Fire swept through the camp in 1911 causing a huge amount of destruction and some 2 hundred deaths.

Timmins was founded by Noah Timmins in 1912 following gold discoveries in the Porcupine Camp. In 1912 the Hollinger, MacIntyre and Big Dome Mines were founded. The town had already grown larger than the original mining camps to the east on Porcupine Lake.
February 10, 1928 smoke began to curl up from the main Hollinger Mine shaft house. At first noone could understand how fire could take place in a hard rock mine. Hundreds of miners escaped, but news soon spread that others had been trapped underground. In the end, miners succumbed to the smoke and carbon monoxide poisoning. An inquiry into the disaster recommended that mine rescue stations be set up in major mining camps. In 1929 the Porcupine Camp received the first mine rescue station in the province of Ontario. Stompin’ Tom Connors, the famous Canadian singer composed and recorded a song about it, entitled Fire in the Mine.

In 1973, the government of Ontario amalgamated all the municipal jurisdictions within a 3,200 km² (1,240 square mile) area, including the Town of Timmins, South Porcupine, Schumacher (Tisdale Township), Mountjoy Township, Porcupine (Whitney Township) and the many of the other smaller surrounding communities which created the Corporation of the City of Timmins. The city was the largest city in Canada by area until the incorporation of Wood Buffalo, Alberta in 1995.
The mining of gold was the catalyst, however during the early 1960s, base metals such as silver, zinc, copper, and nickel were discovered (Texas Gulf Sulphur), breathing new life into the Porcupine economy and to this day mining remains the dominant industry in the area. Forestry is also important to the economy of the town.
Recently, the city’s Schumacher neighbourhood has experienced problems with sinkholes, due to water erosion in the subterranean network of abandoned mining tunnels beneath the area.

Timmins is a town with great history. Sudburymortgagebrokers.com has many mortgage products for Timmins, Ontario. Timmins mortgage products include: Timmins home mortgage for puchases, mortgages Timmis for refinancing, mortgage Timmins renewals. So for your mortgage Timmins, contact us.

Posted by Kevin Somnauth, CFA
SudburyMortgageBrokers.com (http://sudburymortgagebrokers.com)