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helidoug

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Hello all. I am brand new here and just learning about real estate investing. I have a question. I was recently told that as of April investment mortgages required a 20% down payment. Is there any truth to this? Any info/education anyone can offer would be very greatfully appreciated.
 
QUOTE (helidoug @ Oct 15 2010, 06:53 PM) Hello all. I am brand new here and just learning about real estate investing. I have a question. I was recently told that as of April investment mortgages required a 20% down payment. Is there any truth to this? Any info/education anyone can offer would be very greatfully appreciated.

Yes, this is correct.

Michael
 
QUOTE (bizaro86 @ Oct 15 2010, 06:26 PM) Yes, this is correct.

Michael


well this certainly changes the amount of capital one requires to get started. Do you know who instituted this requirement? Where I can read up on who sets these policies?

Thanks
 
QUOTE (MonteDobson @ Oct 15 2010, 07:48 PM) The Federal Government implemented these changes: More info @ http://www.canadiancapitalist.com/new-mort...tal-properties/ or google the subject.


Thanks Monte. As you can see from my question I am trully new to this with oh so much to learn. I decided to research some of the threads on here and have found tons of information. I appreciate the help and patience of those who have the knowledge that I seek.
 
QUOTE (helidoug @ Oct 15 2010, 06:53 PM)
..I was recently told that as of April investment mortgages required a 20% down payment. Is there any truth to this? Any info/education anyone can offer would be very greatfully appreciated.


That is true.



Related posts to learn to get going:



5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



Appoaches to achieve success in real estate (and in life): http://myreinspace.com/public_forums/Real_Estate_Discussion/62-16722-Love_what_you_do_-_Do_what_you_love_.html



How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html



How did I get started: http://myreinspace.com/public_forums/Real_Estate_Discussion/62-15422-Is_my_goal_of_200K_annual_income_feasible.html



50/50 in a JV ` is this fair ? http://myreinspace.com/public_forums/Real_Estate_Discussion/62-2015-5050__is_this_fair_.html
 
QUOTE (invst4profit @ Oct 15 2010, 08:10 PM) What province are you looking at for your investment.


I am presently in Ontario doing some investigating and I live in BC where I am also having a look around as I learn more.
 
QUOTE (ThomasBeyer @ Oct 16 2010, 01:27 PM)
That is true.



Related posts to learn to get going:



5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



Appoaches to achieve success in real estate (and in life): http://myreinspace.com/public_forums/Real_Estate_Discussion/62-16722-Love_what_you_do_-_Do_what_you_love_.html



How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html



How did I get started: http://myreinspace.com/public_forums/Real_Estate_Discussion/62-15422-Is_my_goal_of_200K_annual_income_feasible.html



50/50 in a JV ` is this fair ? http://myreinspace.com/public_forums/Real_Estate_Discussion/62-2015-5050__is_this_fair_.html




Thank you very much I shall read these and learn. I am also presently reading Don Campbells book Real Estate investing in Canada which is what led me to this forum.
 
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