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Making homeownership easier

Published:Saturday | December 6, 2014 | 12:00 AM

Making homeownership easier

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Lower down payment to make homeownership easier

The high down payment required in order to purchase a home is to be drastically slashed, following the passage of an amendment to the 1960 Mortgage Insurance Act in Parliament. When signed into law by the governor general, the bill - which was passed in the House of Representatives on November 11 and in the Senate on Thursday - will lead to upfront costs being reduced from up to 17 per cent to five per cent. Read more here: http://bit.ly/1tTgNRM.

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