First Time Home Buyers

posted Oct 19, 2009, 10:41 PM by Bob Patel, AMP   [ updated Sep 1, 2012, 2:48 PM ]
First Time Home Buyer 

Mortgages
Purchasing a home is a very important decision and your home mortgage is the single most important financial decision that you can make. Our team of mortgage specialists will explain what is available, research your mortgage options and work with you to get your first time home buyer mortgage approved at the best rate and terms for you.

We work for you, not the banks and we don't get paid until you move into your new home. Do you think your bank wants you to pay off your mortgage quicker? Whose best interest do the banks look after? You need someone to represent you. We work with the major Canadian mortgage banks on a daily basis and we know their mortgage products and mortgage terms.

No Money Down, No Down Payment Mortgage?
Having some trouble saving up 5% of the purchase price for a home? We deal with mortgage lenders that will allow you to borrow up to 100% of the purchase price based on your good credit and stable employment.

Minimum Requirements for a 100% financing no money down mortgage:
  • Beacon (FICO) score of 600 for all mortgage applicants with a minimum of 3 years on the credit bureau
  • No late payments in the last 12 months (24 is better)
  • Minimum mortgage amount is $100,000
  • Preferably three years of stable employment in the same industry with proof of satisfactory income for all applicants
  • 45% of income can go to service the mortgage debt and property taxes instead of the normal 40%
  • Property being purchased must be close to a major urban area, zoned residential and complete (no fixer uppers!)
  • Past bankruptcy will be considered after discharged for 24 months and if credit has been re-established
Yes! Home ownership is a possibility, with no money down!

Call us today to get started with a Mortgage Solution that fits your lifestyle,
Telephone (416)855-5952.
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