Canada Mortgage Hub Discussion Board

Canada Mortgage Hub Discussion Board



SearchSearch   Members      Login
Today: 17.01.2018 - 21:31:03
   Canada Mortgage Hub Discussion Board -> Mortgage Montreal -> How can I get a 100%, 0 money down mortgage loan without an extensive credit history? We're in Montreal.?
Autor Post

nigal16

User




Statistic:
Total topics: 13
Total posts: 63
Reputation: 868 ±
Penalties: 0
How can I get a 100%, 0 money down mortgage loan without an extensive credit history? We're in Montreal.?
--------------------------------------------------
--------------------------------------------------
Canadian mortgages inc
Post # 1.

rjn128

User




Statistic:
Total topics: 9
Total posts: 23
Reputation: 372 ±
Penalties: 0
I'm a mortgage broker from Edmonton, Alberta. You have a few options either try and borrow the down payment from a lender and apply for a flex down mortgage, this requires a lower beacon score (680 for 100% loan with "A" lender). Go to a "B" lender and get 100% financing @ a rate of 6.9% for a 3yr term. This one is my favourite you go to your bank and ask for a RRSP loan, place the RRSP in a very low risk investment. The RRSP has to be in place for 90 days, then you can withdraw the money and use for your down payment as long as you are a first time buyer. You can either ask your bank for a loan or line of credit it all depends on your debt service. Another bonus is that when you file your taxes next year you will have the added bonus of claiming the RRSP on your tax claim. You can then use your tax rebate to help pay down your loan.
--------------------------------------------------
Post # 2.

octa

User




Statistic:
Total topics: 5
Total posts: 17
Reputation: 157 ±
Penalties: 0
Fantasy land mortgate corp.Seriously, have you been watching the news. Mortgage lenders are getting killed with high risk loans like that and are really tightening their belts. Not to mention the fact its really not smart to go into a home with zero equity. Wait till you can get a 10% downpayment and build a little credit history.. you will be alot happier.
--------------------------------------------------
Canadian mortgage rates
Post # 3.

osios

User



Statistic:
Total topics: 1
Total posts: 90
Reputation: 117 ±
Penalties: 0
sorry can't help but we are going through the same thing at the moment,it is so frustrating if we can afford to pay rent of $850 a month surely we would be able to afford a mortgage for a lot less.hope you find something.
Post # 4.

piterskyi

User



Statistic:
Total topics: 2
Total posts: 82
Reputation: 389 ±
Penalties: 0
Talk with a mortgage company not a bank.. My credit score is in the mid-600s and I've been approved for a 100% financed loan at about 6% interest. Check other companies! Also... I'm not considered a sub-prime borrower either., so I don't see why you would be considered one either.
--------------------------------------------------
Canada mortgage and housing
Post # 5.
1  


Powered by © 1.8 eXclusive