MORTGAGE PROGRAMS
Purchases
Min. down payment 5%
Personal residential real estate.
Purchase Plus Improvements
A program where you can add money to the mortgage for renovations at the time of purchaser.
Click here for more information
HELOC - Home Equity Line of Credit
A line of credit can go up to 65% of the value of the property.
Interest only payments required. Re-advanceable.
*ask Nikole how you can get a line of credit with 20% down*
New to Canada
Min. down payment 5%
For newcomers who may not have credit built.
No Down Payment
Program where an existing credit facility is used for the down payment. Must have excellent credit
and qualify with the down payment loan included.
Rental Properties
Min down payment 20%
Refinance
Min. equity that needs to stay in property is 20%
Drawing equity out of a home you already own.
Reverse Mortgage
An option in retirement to access up to 55% of your equity.
Self-Employed
While it makes sense as a business owner to deduct as many expenses as you can, it can also make it more difficult to qualify traditionally with lenders. There are a couple ways we can potentially increase your income for an application:
Under 20% down payment - potential gross up options.
20% down payment or more - can still access stated income programs.
Separation | Spousal Buyout
An option to clients who are separating (married, common-law or even siblings can use this program), where one wants to keep the home but needs to buyout the other from equity in the property. This program allows the net mortgage back up to 95% of the value. So the remaining owner in essence can start back at 5% down.
Click here for more information
Transfer
Switching to a new lender.
Go have fun looking at homes with the confidence of a plan in place. It's Free.
