While the Oscars brought Hollywood’s award season to an end last week, the real estate industry is still smack dab in the middle of theirs! The Greater Vancouver Homebuilder’s Association held an event for its members last night to [ … ]Read More
As of February 16th, 2016 the minimum down payment requirement for purchasers could increase by as much as 1/3 or more. As of now, the minimum deposit requirement is 5% of the purchase price of a home, but with these new changes purchasers will be required to pay another 10% on the remaining balance over $500,000. However, these rules will not apply to purchasers spending less than $500,000 on a home.
For full details on the new rules and how they will affect you please click here.