Quote:
Originally Posted by Winsor_Pilates
Question for the mortgage brokers in the room
If a buyer has a pre-approval in place before March 18th, can they still get a 35 yr amortization on something they purchase after that?
Or do they need to have final approval in place before March 18th?
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I'm just waiting to get an answer back from CMHC but if I recall from last year, as long as the deal is live (not a pre approval) and submitted before March 18th then you will still be able to get the 35 year amortization.
Any deals submitted after March 18th will be subject to a 30 year am.
I will post the definite answer once I get a response from CMHC.