5% Cash Back Mortgage
Saving the 5% down payment for a home can be difficult, the cost of living is very high in many Canadian centers and putting away money every month can be a challenge. Regardless, we want to help you achieve the dream of home ownership sooner, with our 5% Cash Back Mortgage!
The 5% cash back mortgage works almost like a loan. The lender will give you the 5% you need for down payment, and by paying a higher rate on the mortgage you pay back the money over the 5 year term of the mortgage. Obviously your payments would be lower if you had your own down payment but that is simply not possible for all of our clients. In order to qualify for the 5% cash back mortgage, you just need to have a full time job, clean credit and enough money for your closing costs.
This product is not just for clients looking for a zero down mortgage however, the 5% cash back mortgage is a great option to give clients cash at closing to purchase furniture, pay off debts or for home renovations. We also have cash back mortgages with less than 5% with lower mortgage rates, talk to one of our Canada mortgage brokers to personalize a loan for your situation.
What other options are there for those who have no down payment?
We are Canada's 'Zero Down Mortgage' Specialists
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