Zero Down Mortgage

Some times referred to as Free down or even Flex down Mortgage.  These products where developed to help Canadians get into home sooner.  There are 2 different types of Zero down Mortgages, 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. Although there are still credit guidelines in which we must follow they are much more relaxed than the 100% Mortgage.

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 term in which you wish to lock your mortgage in for. Although there are still credit guidelines in which we must follow they are much more relaxed than the 100% Mortgage.

If your credit is not perfect maybe some slow payment history we can still get you into that perfect house.  A growing number of financial institution are offering a more relaxed Zero down mortgage. Maybe you missed a credit card payment or had a collection there are still option out there for you.

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