100%
financing still lives…outside the banks; and at better than bank
mortgage rates! It's called the Free Down Program - and
we are the experts at it!
Here are some examples of buyers who might potentially be suited for
100% financing:
|
•First-time buyers whose rental costs are roughly the same
as they would be paying on a mortgage •Renters with no consumer debt and good employment •A borrower whose money is tied up in their business or investments/RSP’s •Folks who have had to sell their existing home at a loss We understand that sometimes saving the required down payment for a new home can be challenging. Our Cashback Equity /Borrowed Down Payment mortgage program helps make it possible for people to start building equity in their own home without having to save for years. Among other qualifications, it requires: •1.5% of the purchase price in cash for closing costs •excellent credit •two years on the job •little evidence of credit seeking behaviour •good debt ratios We recently were able to assist a family that had to sell their home at a loss due to an unexpected job transfer. We assisted by arranging a $20,000 personal line of credit with a sympathetic lender - and the clients are now living in their dream home! Know someone struggling to put together the 5% downpayment and/or closing costs? Give us a call - we'd love to talk about it! |
Down payment options can include:
Down payment options can include:
Down payment options can include:
Down payment
options can include:
•Lender cash back incentives •Borrowed sources that are arm's length to the purchase or sale transaction such as personal loans, lines of credit or credit cards •Gifts from non-immediate family members (an immediate family member is defined as a father, mother, child, brother, sister, grandparent, legal guardian, or legal dependant) |
