Borrow your Down Payment

Posted by Pam Peters / Mar - 22 - 2017 / Mortgages / 0 Comment

Did you know that if you have great credit, income and if borrowing your 5% fits in line with your debt servicing ratios, you can borrow your down payment?
This is great for clients who are renting and the landlord just advised them they are selling the house. Since they haven’t been saving for a down payment now they can just borrow it. Also works great for clients that have secured employment now that they have left school. Instead of waiting they can now borrow using an unsecured line of credit, credit cards, or even a loan from a family member. As long as the ratios work, the property fits the lender’s lending criteria we can help you obtain home ownership sooner rather than later.
If you have any questions please contact either Pam or Doug at 780-436-0390.

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