Archives: January, 2011

New Mortgage Rules For Government Insured Mortgages

Effective March 18, 2011, it will be tougher to get a mortgage for products requiring government insurance. Here are the new rules: 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 […]