Articles

Did You Know You Can Buy Property With No Money Down?

Is there such a thing as a No Down Payment Mortgage?

Yes, there is a product in Canada now available from major lenders that allow you to purchase a house with no down payment. There are also lenders that will give you up to 5.2% cash-back on the closing.

Newly promulgated legislation allows for a certain category of applicant to qualify for such mortgages. Since applicants have to meet certain criteria to qualify, I strongly suggest that you consult your mortgage broker to determine whether you find the conditions of these finance options meet your needs as the borrower.