Quote:
Originally Posted by ken0042
And if they do in fact have as much as $10K to put down now, there would be no reason for them to go RTO, as with that kind of money you could easily assume a mortgage. So I would be surprised if their down payment is that high.
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You are not allowed anymore to assume mortgages in Alberta without the banks approval. As well it seems all banks are pretty strict on the 5% down, therefore the 10,000 would only work for a property $200,000 or less, which limits you're options.