UPDATE: Strata Duplexes Now Okay
CMHC has just announced that they will now be insuring mortgages on “non-conforming stratas” again. This reverses an earlier decision (see previous post). A requirement is that title insurance must be taken out.
This is super news for both buyers and sellers. Now buyers can go as low as 5% down again!
No updates from the other two insurers as of yet.
FURTHER UPDATE: Other insurers are on board as well.
Wayne Mah, Senior Mortgage Planner, The Mortgage Centre 604.880.1899 / mah.w@mortgagecentre.com
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