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The new mortgage regulation, which came into effect on July 9, 2012, reduces the maximum amortization period of a 30-year mortgage to 25 years for high-ratio mortgages? This means that the maximum time it takes to repay a mortgage for Canadians is now 25 if you have less than 20% home equity. The maximum amount of mortgage refinancing has also been reduced. Prior to July 9, Canadians could refinance their property for up to 85% of the value of their property. This has been reduced to 80%. In addition, no mortgage insurance will be provided for properties worth more than $ 1 Million. Buyers who provide a first mortgage payment of less than 20% of the purchase price will still be required to pay Mortgage Insurance. Visit for a summary

What does this mean for Canadians?


The Canadian government is trying to protect the Canadian financial market and maintain its stability. By ensuring that Canadians retain more home equity and repay their mortgages more quickly, the government hopes to reduce the risk to taxpayers and reduce the debts of each household.

What does this mean for your mortgage application?

What does this mean for your mortgage application?

The new regulations for mortgages make getting financing a bit more difficult for Canadians. This makes the help of a mortgage broker in Canada more valuable than ever. If you are looking for a mortgage loan, speak to a representative of Quebec Customer Service. We encourage you to leverage our influence and expertise in your favor. We know we can get the loan you want with a lower rate and better terms than your bank offers.