Zero Down Payment – How To Buy A Home With A Low Or No Down


How to Buy A Toronto GTA Home with a Low or Zero Down Payment?

Buy Zero Down with Cash Back Mortgages Video

You may have owned a Home before and are presently Renting or maybe you are a First-Time Homebuyer and need a way to break into the Housing Market but held back because you thought you required a $20,000, $30,000 or even more for a downpayment.

Dash For Zero Down i.e. Buy with 5% down payment,

Take advantage of Bank Cash Back Program + Get Money for Renovations

On Approved Credit [OAC], Certain Conditions Apply.

Industry insiders have prepared a new special report entitled, “How to Buy a Home With Zero Down Payment”, and reveals how this cash-back and innovative program can get you into the housing market immediately and with absolutely low or no downpayment.

with ABSOLUTELY LOW or ZERO DOWNPAYMENT.

What is Cash Back Mortgage for Down Payment?

Zero down mortgage

How does a Cash-Back Mortgage Work?

Some Banks have a Cash Back Program.

Banks give Buyers certain percentage of purchase price as a Cash Back Mortgage.

These are higher interest rate mortgages.

Some Lending institutions offer cash back mortgages and

affiliate themselves with a program called Purchase Plus Improvement.

Your credit has to be good.

Mortgage is for a fixed term.

If you break the mortgage term you will have to return the Cash Back.

Additionally, you have to qualify for an amount with posted interest rate.

Some lenders will give you the Cash-Back immediately after closing.

Few lending institutions may allow the initial down payment from your line of credit.

Zero down mortgage

Is Cash Back Mortgage A Good Deal?

Let’s review the above with an example:

Using $100,000 as bank mortgage amount and upto 5% as cash back.

Cash back amount = $5,000 [i.e. 5% of $100,000]

Let’s assume the 5 year posted interest rate is 4.74%

Monthly payment amount would be $566.89

Assuming interest rate to be around 2.89%

Monthly payment amount would be $467.62

is $99.27 per month [i.e. $566.89 – $467.62]

[i.e. $99.27 X 60 months = $5,956.20 – $5,000 cash back amount = $956.20]

5 times i.e. $5,000 for a $500,000 mortgage.

Now at the same time consider

the appreciation of the property value during this 5 year term.

market conditions and your ability to bear the mortgage amounts.

Zero down mortgage

Is Cash Back Mortgage Good or Bad?

With hot Toronto Real Estate market where you will only pay $5,000 extra

as in the example above and the value in 5 years could easily increase

substantially it’s a no brainer that it can be a great deal.

What’s the catch with Cash Back Mortgage?

The interest rate is higher.

You will have to qualify for this high interest rate mortgage.

The mortgage is a fixed term mortgage.

You will have to repay the Cash Back if you break the mortgage term.

Should you stay away from Mortgage Cash-Back offers!

Yes, If you cannot afford the per month mortgage amount as it is higher.

Yes, if want to qualify for a higher mortgage amount.

Yes, if you have your own down payment.

Zero down mortgage

How To Buy A House With No Money Down as a First-Time Home Buyer?

Here are a few options for a first-time homebuyer:

Borrow initial down payment funds from family, friends etc.

First-Time Buyers can use their RRSP for the downpayment.

Some lenders will allow using your line of credit for initial deposit.

Repay funds with cash back thereby prompting Buy with Zero Down Payment.

Do you want to take advantage of this hot Real Estate market?

Are you better renting and not sure where the market is heading?

Can you ponder on this; my mortgage amount is a kind of forced saving?

Are you bogged down with interest rates and not wanting to dwell further?

Zero down mortgage

So How can I Buy a House with Zero Down Payment and No Closing Costs?

Regarding closing costs, this amount you have to come up by yourself.

Consider first and last month rent, additional savings, borrow from family, friends etc.

Sometimes you may qualify for an extra cash back to augment this amount.

Closing costs are generally 1.5% of the purchase price.

You also get a refund being a first time buyer.

If you do all the math, it is not difficult to come up with this amount.

For initial down payment, you can use your RRSP.

Under the Home Buyers’ Plan [HBP]

you can take out up to $25,000 per person from your RRSP.

Some lending institutions will allow you to take out money from your line of credit.

You can take a cash back mortgage and

repay your line of credit hence prompting buy with zero down.

Zero down mortgage

How to Purchase a House with Cash Back Mortgage + get Money for Renovations?

This one is interesting if you foresee minor renovations or are indulging in a fixer-upper.

Some Lending institutions offer cash back mortgages and

affiliate themselves with a program called Purchase Plus Improvement.

But you are only buying a property whose purchase price is $450,000.

Under this program you may qualify and can get money for renovations.

to fulfill their dream of owning a home.

Feel free to call / email me regarding your unique situation.

You will feel glad you called and thank yourself later.

Zero down mortgage

Act Now:

Buy Zero Down with Cash Back Program + Get Money for Renovations

On Approved Credit [OAC], Certain Conditions Apply.

Zero down mortgage2. Call Now For: Scintillating Mortgage Rates |

Pre-requisite: Buyer Representation Agreement.

3. Click Below For Viewing TREB MLS® System

Homes For Sale Hot NEW Listings that interest you:

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