New Federal mortgage regulation changes for buyers with <20% down and non-residents come into play Oct 02/2016, Oct 17/2016 and Nov 30/2016. Changes include:
1. Higher qualifying rates ("posted" rates vs. "discounted" rates)
2. Changes to principal residence Capital Gains exemptions for non-residents
Net effect: Buyers with <20% down will qualify for less & non-resident Sellers will need to look closely at the tax implications of selling their properties.
Contact Kyle (778.847.3325; firstname.lastname@example.org) for more information.
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More analysis and details: http://tinyurl.com/h64vtaq & http://www.fin.gc.ca/n16/data/16-117_2-eng.asp