Big News for GTA Home Buyers! Mortgage Insurance Cap Raised to $1.5 Million

The Real Estate and Mortgage Show

Hi, it’s Walter Monteiro from The Maximum Results Team! 🚀 Starting December 15, the insured mortgage cap is increasing from $1 million to $1.5 million, allowing buyers to purchase homes up to $1.5 million with a lower down payment requirement: 5% on the first $500,000 and 10% on the remainder. 🏡✨

This is a big opportunity for buyers in high-priced areas like the GTA! 🌆 However, only around 10-15% of buyers will qualify at this level, as lender income and stress test requirements remain in place. If you’re looking to buy in this price range, reach out to discuss your options and take advantage of the new cap! 📞💬

Thank you for watching! 🙏 Let us help you with your real estate and mortgage needs. We serve the Cambridge, Kitchener, Waterloo, Guelph, and Brantford areas. 🌟 Check out our website at 👉 www.maximumresults.ca.