Buy a Home with Low Down - less than 20%

This type of mortgage will require insurance. The fee for the insurance will range from 0.5% - 7% depending on the type of property and the down payment you have. The fee is usually added to the mortgage amount.

Up to 95% financing for a home for yourself.

Up to 80% financing on rental properties.

You need OK credit, a score of 580 or better. You need GOOD credit for 5% down, 680 or better.

You need to have closing costs which are:

• Legal Fees - Approximately $1000.00
• Adjustments for taxes, strata fees, utilities and such - usually a few hundred dollars
• You need to have enough money for the deposit to remove subjects - can be gifted
• Typically the Lender wants you to have 1.5% of the purchase price in cash for closing, cannot be borrowed or gifted
• Can be used for 1 - 4 home, duplex, townhouse or condo

You should contact a mortgage broker that wants to work on a low down deal.

Contact a Realtor that is comfortable doing creative deals (form below). Many aren't.