GE Mortgage Insurance removes home price limits - 2003-09-15
GE Mortgage Insurance Canada has removed the
home price limits under its 95% default mortgage insurance program, effective immediately.
This change permits home buyers with five per cent down payments to purchase the homes they can afford based on their income, credit history
and debt-to-mortgage ratios.
Canadians who made a five per cent down payment
under the previous program were limited to a maximum purchase price ranging from $175,000 to $300,000.
Read the full story at Canada NewsWire