Peter Colls

604.220.2269
Peter Colls
Cell:604.220.2269
Office:604.684.6155
Fax:604.684.4155

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With all of the new Government rule changes, we've been inundated with enquiries on the new minimum down payment requirements. Below please find the list which will be in full effect March 17th, 2011:

Purchase home to live in:

Fully qualifying: 5% down payment
Business-for-self program (specialty program): 10% down payment
Cash back mortgage: 5% down payment - lender gives client minimum required 5% down payment - in return, the client pays a higher interest rate for the 5 year term

Purchase rental property:
Fully qualifying: 20% down payment

Refinance home:
Fully qualifying and business-for-self program: 85% equity required
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.