Recent mortgage programs have been launched to help get home purchasers who have limited down payment and a solid credit history into a home sooner. Through these programs, buyers with limited funds for down payment may be allowed to use borrowed funds or mortgage cash back offers to assist them in meeting the 5% equity requirement for default insured mortgages. Other important details of these new programs include:
- Home purchases only.
- The property must be owner occupied primary residence and all mortgage applicants must reside at the property.
- Mortgage cash back and funds borrowed for down payment cannot exceed 5% of purchase price.
- Available to clients for (1) one mortgage only.
Understanding home financing options and affordability is important especially to first-time home buyers as well as those purchasers with limited funds for down payment.
That's where I can help in recommending you with tailored advice that meets your needs for today and the future. For a FREE no obligation, personal and confidential consultation, contact John Gaio you Brampton Realtor offering free market evaluations and Brampton homes for sale.
After all, "Helping You Make Intelligent Decisions", is what I do.
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