ZERO DOWNPAYMENT MORTGAGES

As I’m sure you are all aware the zero downpayment or no downpayment as they are sometimes called have come in for some criticism from government and other sources. Regardless of your own opinions they had their place in the market and did help Candians get into homeownership earlier than they would have otherwise.

Don’t kid yourselves too these mortgage were profitable for the banks too and once you were in them they are hard to get out of before their scheduled maturity.

What I have found though is that most people think these mortgage are a thing of the past, well guess what they aren’t. I have access to zero down mortgages today, the qualifying criteria is stricter i.e. you must have excellent credit, strong employment etc. but they are still currently available. We don’t know for how long but if you want to make that step up to home ownership before they do go away you may want to contact me before it’s too late !


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