Greg Thornton & Colin Thornton        

Top 10% of Greater Vancouver REALTORS® for 29 Years ! In Listing, Sales, & Dollar Volume!


``Modern Day Marketing Techniques With Old Fashioned Service``

RE/MAX Sabre Realty

Group 604-942-0606

102-2748 Lougheed Hwy, 

Port Coquitlam, V3B 6P2

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Greg Thornton
Cell:604-644-8252
Office:604-942-0606
Toll Free:1-888-942-0606

Colin Thornton
 
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Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from 5 per cent to 10 per cent for the portion of the house price above $500,000. The 5 per cent minimum down payment for properties up to $500,000 remains unchanged.

 

Here’s an example of what that means:

 

Client purchases for $600,000.

 

Amount over $500,000 = $600,000 - $500,000 = $100,000

 

Minimum Downpayment =

 

$500,000 * 5%    = $25,000

$100,000 * 10%  = $10,000

 

Total minimum downpayment = $35,000

 

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