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Today: 20.01.2018 - 03:17:32
   Canada Mortgage Hub Discussion Board -> Mortgage Winnipeg -> Canada mortgage- how much down payment for first time buyers?
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p6d5

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Canada mortgage- how much down payment for first time buyers?
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pajohns

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Newcomers with non-permanent resident status have access to CMHC-insuredfinancing of up to 90% loan-to-value ratio for the purchase of a 1 unit owner occupied residential property below $1,000,000. Borrowers without third party validation of income and individuals with diplomatic immunity are not eligible.Traditional sources of down payment that can be used include: Applicant’s savings, RRSP withdrawal, funds borrowed against proven assets, sweat equity (< 50% of minimum required equity),land unencumbered, proceeds from sale of another property, non-repayable gift from immediate relative, equity grant (non-repayable grant from federal, provincial or municipal agency).No additional fees or premiums as a result of residency status - standard productspecific premiums apply.
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