First-Time Homebuyers Incentive Changes: What You Need to Know
D Fritz Appraisals
JUNE 15, 2021
The incentive works just like putting a second mortgage on your home. . To qualify for the incentive, your mortgage must be greater than 80% of the value of the property subject to a real estate loan premium. The mortgage insurance premium is based on the loan-to-value ratio of the first mortgage only.
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