Zero downpayment
Contrary to popular belief, several Canadian banks allow you to purchase with zero down. This is done by offering a ‘cash-back’ option that effectively acts as a zero down payment loan.
How does this work ?
Once you purchase your property, we will organize with your lender to make two cash outlays through the notary. The first: 95% of the purchase price goes to the seller, the second: 5% ‘cash-back’ on the down payment. The 5% is essentially the down payment you would have made, and it goes to you. This product allows you to keep your money for other purposes: notary fees, welcome tax, furniture etc. Please note the CMHC charges a little more insurance for a zero down mortgage.
To obtain this type of loan, the banks require the borrowers to meet their standards : stable employment and good credit score.
We will help you obtain the best financing conditions in order to help you realise your dreams. It is time for you to stop losing money on rent payments and become a home owner! Call us now for a pre-approval.
