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NEWS | New Mortgage Rules Timelines

Regarding the new mortgage rules based on Buyers putting less than 20% down payment on a home purchase and now having to qualifying at 4.65 % instead of the existing 2.39 – 2.54%.
In order to qualify based on the old rules an ACCEPTED OFFER to purchase needs to be approved for financing no later than October 17, 2016 with a closing date of March 1, 2017 or earlier.