Borrowed Down Payment Mortgage Program
As a first time homebuyer, saving enough money for the down payment on a house can take quite a long time. Not to mention, while you save for the down payment, home prices continue to increase.
Instead, you could have some better luck looking for a mortgage that doesn’t require you to save a down payment. The solution is purchasing a home through the Borrowed Down Payment Program. Keep reading to know more about the borrowed down payment mortgage program.
How does Borrowed Down Payment Mortgage Program work?
This mortgage program allows borrowers to purchase a home with a five percent down payment that is loaned to you by the lender which is typically paid back over five years. What this means is that if you’re a potential home buyer with good credit, you can purchase a home without having to save down payment.
Moreover, with house prices hitting all-time highs, this program can fund your entire purchase and, in turn, help you get into your desired home before the prices increase.
As an experienced mortgage agent at DLC Near North Financial, I offer a broad range of residential and commercial mortgage services. I can help guide you through the process and know exactly what it takes to get you qualified for the Borrowed Down Payment mortgage.
For more information about borrowed down payment mortgages, reach out to me at Jay The Mortgage Guy. You can also give me a call at (289) 795-4649 or (249) 979-0025 or email me at email@example.com to find out if you qualify for the program. I am a leading mortgage agent in Sudbury, Ontario, with access to more than sixty lenders, including big banks, credit unions, and trust companies. My mortgage services are extended to clients across Ontario including Sudbury, Oakville, Burlington, Mississauga, Thunder Bay, Kitchener, Waterloo, Guelph, and the surrounding areas.