CTR Blog

Mortgage Information

As of March 18th, mortgages with amortization periods longer than 30 years will no longer qualify for government-backed mortgage insurance, which is required for Buyers with less than 20% down payment on a home. As of April 18th the government will lower the amount you can borrow against the value of your home to 85% from 90% on a refinancing; and removed federal backing for home equity lines of credit, or so called HELOCs, whose popularity soared in the past decade. The minimum down payment will remain at %5.

Lastly, if you know of anyone moving and looking for professional service, please give us a call!

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Posted on February 10th, 2011 by

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