Your mortgage app includes the current mortgage rule changes that started last December 15, 2024. This means that all tools have included the following.
The increased insured cap to $1,499,999
The 30-year insured mortgages for first-time buyers and newly built properties
Adjusted minimum down payment for the new insured cap
To enable the new mortgage rule, simply enable First-Time Home Buyer or Newly Built Properties by tapping the “Options" button. Once selected, the system will automatically recalculate the down payment to the minimum and add default mortgage insurance.
