Back to Blog

Changes to HELOC’s and No Down Payment Mortgages

General Angela Calla 7 Sep

Sept 5th 2012 

Good Morning,

For the 16th time the BOC has made no change to it’s prime rate. This means there will be no change to your line of credit or variable mortgage rate or payment if you have one. Full press release here:

That doesn’t mean we aren’t seeing changes elsewhere.  As I released some time ago, some lenders have cut their HELOC (Home Equity Lines Of Credit) down to 65% from the 80% already. Other lenders will follow shortly with little to no notice. Scotiabank today released they have said goodbye to the no down payment mortgage for home purchases as of Sept 15th 2012 of this year, and other lenders will also follow with little to no notice.

Read Changes to Lines of Credit here:

Read Scotiabanks says goodbye to no downpayment mortgages here:

Knowing that mortgage options can change like the weather (regardless of rates staying put) it’s important not to wait to review your options. If you have a renewal, carrying debt outside of your mortgage, planning to buy a home or just curious if you are optimizing your mortgage to it’s best ability; contact us today to see how we can help you at or 604-802-3983

Angela Calla

Dominion Lending Centres-Angela Calla Mortgage Team

Host of The Mortgage Show Saturdays @ 7pm on CKNW AM980


t @angelacalla