If you're looking to buy a home and don't quite have a down payment saved up, then you are in luck! It has recently been brought to my attention by the Centum mortgage brokers in my office that there are still lenders that will provide the cash for down payment.
For this type of mortgage option, Buyers must have good credit and need to be able to pay for their own legal fees & closing costs. The interest rate offered is typically the bank's 5 year posted rate. Some lenders only offer a maximum of 5% cash back for a 5 year fixed term.
If you would like more information about this or any mortgage options, please contact one of your local Centum Mortgage brokers: