Low Down Payment
Did you know that you can buy a home with as little as a 5% down payment? That’s right! Thanks to insured mortgage options, you’re able to purchase a property by putting down just 5% of the purchase price (on the first $500,000 and 10% for any of the value exceeding the first $500,000). Any mortgage that requires less than a 20% down payment is referred to as a high-ratio mortgage and must be insured by one of three Canadian mortgage insurance companies – Canada Mortgage and Housing Corporation (CMHC), Genworth Canada and Canada Guaranty.
It’s flexibility like this that will help you get into a home faster so you can begin building your own equity as opposed to renting and paying off someone else’s mortgage.
If you would like to take advantage of consultation, we also offer screen sharing allowing you to have your consultation from the comfort of your home or office. To book an appointment, go to https://calendly.com/canadamortgageprofessional