How to buy a home with 0% down
Did you know that you can still get financing for up to 100% of your home? There is no getting around the 5% down payment required by CMHC, but some lenders will give you the 5% down payment if you are willing to take on a higher interest rate.
Don't forget though, that for non-owner occupied or investment properties, you now need a 20% down payment as part of the new mortgage rule changes recently released.
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Did you know … that you can still get financing for up to 100% of your home? There is no getting around the 5% down payment required by CMHC, but some lenders will give you the 5% down payment if you are willing to take on a higher interest rate. Don't forget though, that for non-owner occupied or investment properties, you now need a 20% down payment as part of the new mortgage rule changes recently released
Posted by Szabolcs Pall
on March 2, 2010