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New condo mortgage policies take effect Aug. 3
The policies start Aug. 3, and some experts warn condo buyers could face delays or denials when applying for mortgages.
CNBC Markets reports that new policies governing mortgages for condos are scheduled to take effect on Aug. 3.
The outlet says some industry experts are raising concerns that the change could make condo mortgage approvals more difficult, with potential delays or denials for buyers.
CNBC Real Estate echoes the same timing, noting that buyers should expect the updated mortgage requirements to apply starting Aug. 3.
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