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Effective Date: April 1, 2025
In accordance with paragraph 16.12.1(c), the maximum amount reimbursable when interest rates are high at mortgage lending institutions, and where the first mortgage in the new principal residence is a higher-interest mortgage than the previous first mortgage is a maximum period of 5 years and maximum amount of $5,000.
In accordance with paragraph 16.12.1(d), the percentage of employee’s equity in a house which requires mortgage default insurance is less than 20%.
In accordance with subsection 16.12.2, the maximum amount payable for a first mortgage repayment penalty is three (3) months' interest or $5,000, whichever is less.
Note: The amounts shall be adjusted in accordance with the methodology agreed to by the NJC FSD Committee and as described in the Guide to Rates and Allowances – Foreign Service Directives.