Purchase a Home With No Money Down!

Every day, families in Brampton, Mississauga and other areas in the Greater Toronto Area are buying homes with no down payment.

If you are like many people, you can afford a mortgage payment but are unable to save up for a down payment.

The No Money Down Mortgage allows you to finance 100% of your new home purchase, live in the home of your choice, and build equity. All that you are required to pay are the closing costs.

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Home Ownership is Possible!

Typically with every mortgage at least 5% down is required. With the No Money Down Mortgage , you finance 100% of the purchase price of the home. All you have to do is show us you have the closing costs, which generally run 1.5% of the purchase price. Actual closing amounts should be verified with a lawyer and are subject to higher interest rate and subject to change or cancellation by lender at anytime.

If you can easily afford your mortgage payments but do not have any money saved to buy a home, the No Money Down Mortgage may be for you. You follow the same process as you would for a standard mortgage except that you are borrowing the total purchasing price.

If you live in an area where property prices are rising quickly, a no money down mortgage can help you buy a home more quickly and start building equity.

Financing 100% of the purchase price of your home is an exciting proposition but it does have risks. Your monthly mortgage payments may be higher than if you had a down payment. You may need to pay for mortgage insurance which will also increase your monthly payments.

If you are interested in being approved for the No Money Down Mortgage this is what will be considered for your qualification:

• Minimum Credit Score of 640 or more
• 24 Months of strong payment history on an individual account or combination of accounts
• No collections, judgments or late/missed payments in last 24 months
• No Previous Bankruptcies, Consumer Proposals or Credit Counseling
• Two to three years of stable employment in the same industry with proof of satisfactory income