In the past, mortgage insurers accepted to refinance
a property up to 90 % of its value provided that the money was used to:
- Pay a first or a second mortgage.
- Pay a first mortgage and future renovations.
- Pay the part of a spouse during a separation.
For almost 2 years now, it is permitted to refinance a property without any restrictive
rules. Naturally, the insurer’s premium is based on the percentage loan vs. value.
This is good news.
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