No Money Down Mortgages

Great income, great prospects, but not-so-great savings?

Great news: several of the lenders available through us have introduced "5% cash back" mortgages to help qualified homebuyers get into their first home quickly. Now you don't have to pay rent while you save for a downpayment!

100% Mortgage with use of 5% cashback
Yes there is a mortgage in Canada that will allow you to finance 100% of your new home purchase but you still need to have 5% of your own funds. You can also use this mortgage product to refinance up to 100% of your homes value for renovations, debt consolidation etc.

Here is how it works:

• The mortgage is 100% of the properties appraised value
• You must have a great credit history (No previous bankruptcies and any late payments in the last two years)
• You must have great job stability (two years in the same line of work is preferred)
  
   

5% Cash Back
With the cost of living being what it is in Ontario, saving up for a down payment can be difficult. Luckily buying a home in Ontario with no money down is still possible with our 5% Cash Back Mortgage. This product is ideal for first time buyers who want to get into the market but haven't been able to save the money they need.

You still require 5% down when you purchase a home today; the cash back mortgage gives you that 5% you need. Through higher interest rates on the mortgage, this 5% is then paid back to the lender over the 5 year term of the home loan. The cash back basically works like a loan. Therefore giving you 100% of the mortgage.

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