Zero Down Mortgage
If you would like to own your own home but can't seem to save up the 5% for down payment, we may have the solution for you; our zero down mortgage! The idea behind this mortgage product is simple, we give you the 5% for the down payment and you pay the posted bank mortgage rate for the 5 year term.
The 5% cash back mortgage is really not much different than the traditional zero down mortgage in Canada we previously had in the market, except the client has 5% equity in the property right from day one. If you have been thinking about getting into the market but don't have all the required down payment (or any) you need, this zero down mortgage product is a great option. You just need to have a full time job, clean credit and enough money for your closing costs.
Even after researching this option, many clients are still somewhat confused with how the product works, especially first time buyers. Let one of our mortgage brokers work with you to explain how the loan would look and how it would benefit you. Home ownership is just a click away so contact one of our home loan specialists and let us get started working for you. A 5% cash back mortgage is your key to paying off your own home, instead of your landlords!
Even if you have the required 5% for down payment, the 5% cash back mortgage is a great option to give clients cash at closing to purchase furniture, pay off debts or simply sock away some money for renovations down the road. We also have cash back mortgages with less cash and lower mortgage rates, talk to one of our Canada mortgage brokers to personalize a loan for your situation.
What are the options for those who have no down payment?
We are Canada's 'Zero Down Mortgage' Specialists
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