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NO DOWN PAYMENT MORTGAGES for London, Ontario Real Estate

Yes ,you can purchase a home with no or little down payment!

Why wait for mortgage rates to go up ?

Why Rent When You Can Own? 

Build Equity now before prices go up .

With over 20 years experience  in residential ,commercial recreational  and farm real estate I can introduce you the most professional and experienced  mortgage professionals tailored to your needs .Don't leave this to chance !

I have helped hundreds of clients ,friends and or relatives !

If you have a good credit rating and stable income, you may qualify to purchase a property with no down payment using a Cash Back Mortgage. 

 You will need to show that you have enough money to cover your closing costs (about 1.5% of the purchase price).

ADDED BONUS  Buy with myself as your buyers realtor (agent) and earn up to $ 3,000 cash rebate on a $ 400,000 ,  $ 1,500  on a $ 200,000 purchase etc .***

When one applies for a cash back mortgage, the mortgage lender provides you with a specific sum of money upon funding of the mortgage. The amount you receive is based on a percentage of the mortgage purchase  price . 

Since the minimum down payment required is 5%, the lender provides you with a 5% cash back that is payable to your lawyer on closing. Therefore, you are purchasing a property with 100% financing. These are called cash back or zero down payment mortgages and can make home ownership an affordable reality. The cash back amount is paid over the term of the mortgage by way of a higher interest rate.

The 100% Financing Mortgage Option in the London ,ONT real estate market may be the right fit for you if you:

  • You do not wish to use private mortgage lender at higher interest rates
  • You do not wish to use private mortgage lender at higher interest rates

•     You want to get into homeownership and stop paying rent before the rates go   up               

.      Don’t have enough savings for the usual minimum 5% down payment

 .    You do not wish to use your RRSP  towards your down payment

.     You are planning on staying in your new home for at least the next 5 years

.     You are 1st time home buyer

.     2 years on the same job with credit score of min 650

.     You do not have maxed out  credit

Cash Back Mortgages for Closing Costs

If you have some money for a down payment but want a smaller amount to cover other expenses, then a smaller cash back mortgage is possibility for you.  You receive anywhere between 1% and 3% cash back on the mortgage to help with the closing costs, furniture and even paying off some other debts.

Flex Down or Borrowed Down Payment

This is slightly different from a cash back in that you can borrow your down payment from a line of credit, credit card or personal loan.  You may even  be able to use a gifted down payment from immediate family members provided that you have good credit and stable income.

With over  20 years experience I can introduce you the most professional and experienced  mortgage professional and if of interest private lending options.

Stop paying your landlord and take action today and start building equity in Byron, Oakridge, Masonville, East London, Westmount, Whitehills,Whiteoaks,Hyde Park,Komoka, Kilworth, South London, Old South,Old North


Published Saturday, January 31, 2015 11:41 PM by Jim Straughan


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