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Old 11-28-2008, 10:28 AM
MortgageOpolis MortgageOpolis is offline
Junior Member
Join Date: Nov 2008
Posts: 4
Default 100% financing still available


As crazy as it may be... 100% financing is available with a bit of a twist.
Some lenders are offering Cash Back mortgages up to 7%, but, the interest rate is higher for this product. The higher rate is how the lender gets compensated for lending you the Cash... you don't make a separate loan payment!
A Cash Back mortgage credits a borrower a percentage of the purchase price at closing which can be used as a down payment for the purcahase provided CMHC mortgage insurance guidelines are met.
Tip: You can withdraw up to $20,000 of your RRSP's tax free for a down payment if you haven't owned a home as a principal residence in the past 5 years. Contact me for more info. on this program.

Take care,

just apply we'll do the rest!

Last edited by BankAdmin; 11-28-2008 at 03:10 PM. Reason: Put link to your site in your signature
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