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Originally Posted by blankall
Fair enough.
Curious about this now. Any mortgage experts here who can identify the limits on this?
Anyways, in Vancouver the problem is the people putting down cash immediately. They aren't getting mortgages. Unless there's some kind of mortgage system that allows you to get hundreds of thousands prior to having a specific property in mind.
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The banks I know that are doing it are TD, Scotia, and National Bank. NB no longer does it through the broker channel (due to some fraud), but their requirements for qualifying were 35% down, and 12 month's PIT in a Canadian account.