The HELOC Clock Starts Ticking
August 9, 2012 by Adil Virani
Filed under Latest News, Latest Rates, Mortgage FAQ, Recent News
If you want a HELOC orreadvanceable mortgageequalling 66%-80% of your home value, be ready to act soon. We’re hearing that some banks may start cutting back on their HELOC lending limits by the end of this month. These moves relate to OSFI’s new B-20 underwriting guidelines, which require federally regulated lenders to limit new HELOCs to 65% loan-to-value (LTV), from 80% […]
