Important Changes to Mortgage Qualification Coming October 17th, 2016
The Alberta Government’s 2015 Budget announced some dramatic changes to user fees paid for all kinds of services. Items like marriage, and death certificates made news, however, a large increase to title registration did not receive the same level of attention. Changes to mortgage and title registration costs announced by the Alberta Government will come into effect on July 1st, adding additional cost to the price of purchasing a home.
On July 1st, 2015 the cost of purchasing a home will jump dramatically by way of an increase to land title and mortgage registration costs, as outlined by the Calgary Herald in this article, that would see costs rise from $290 at present, to $1,230.
For those looking to purchase a home, today’s low interest rate, and large selection of homes on the market, it might be the right time to buy now, rather than waiting until this summer.
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