Zero Down Mortgage

Sometimes referred to as Free Down or even Flex Down Mortgage. These products were developed to help Canadians get into a home sooner. There are two different types of Zero Down Mortgage, which are offered through the major banks in Canada. The type you may qualify for depends on your previous credit history. Don't worry, you don't need perfect credit to qualify, we have other institutions out there for you.

The Free Down payment mortgage is basically a cash back mortgage. The financial institution gives you the equivalent to 5% down payment to use as your down payment. The Flex Down allows you to borrow your down payment from another source. This allows you to get a better rate then the cash back mortgage and more options when it comes to choosing the terms. There are still credit guidelines which we must follow for both, but they are much more relaxed than the 100% Mortgage.

If your credit is not perfect, or you have some history of slow payments we can still get you into that perfect house. A growing number of financial institutions are offering a more relaxed zero down mortgage. If you missed a credit card payment or had a collection there are still options out there for you.

Contact our office today to see what's right for you.