Posted June 02, 2018 04:03:12The federal government is set to roll out a new program that will allow homeowners to take out a home construction financing loan, as well as a mortgage on their house.
According to a statement from Finance Minister Jim Flaherty, this program is intended to help ensure that home construction projects do not result in a loss of value to the taxpayer, as was the case with the housing bubble in 2008.
The Federal Government’s Housing Finance Program will provide a mortgage option to all eligible homeowners who are willing to pay the equivalent of 10% of their monthly household income on their home construction finance, or mortgage up to a maximum of $400,000.
In the meantime, there are still a few things that can be done with your home finance.1.
Make sure you’re qualified1.
The loan must be a federal government-backed loan, which means it has a maximum interest rate of 5%.
It also must be in good standing.2.
The lender must not be affiliated with the construction company.
This means that the company is not part of the lender’s group, which would have to be approved by the federal government.3.
You must also submit proof of your income and your monthly household expenses.4.
You will not be able to apply for a home finance loan until your mortgage payment is paid in full.5.
The program is meant to allow home owners to refinance their mortgages if they cannot afford to pay for their house, as it is often difficult to pay down a mortgage without incurring a significant down payment.6.
If you need to refinances, you will need to make a down payment of between $1,500 and $3,000, which will vary depending on the market.
If you’re not sure whether you’re eligible, here’s what to do:1.
You can apply online through the federal department of finance.2