Zero Down Payment Mortgage with 5% Cash Back
I just wanted to let you all know about a new benefit which I am able to offer to my real estate clients. I can now arrange up to 100% mortgage financing on a home purchase within GTA.
If you have a minimum credit score of 650 or better (without previous bankruptcy or consumer proposal) and steady income, you may qualify for up to 100% mortgage financing on your home purchase. This is an exclusive offer to all my real estate clients who buy their home with me and who meet the qualifying criteria below.
This zero down payment mortgage financing option is for home buyers that have an established history but have not yet saved the required down payment for a home. Non-residing co-borrowers/co-signers must be an immediate family member and on Title.
The product is ideally suited to those with:
· Minimum 2 years on Job with 2 active/established credit trades per applicant
· Healthy 650+ Beacon score
· (single family detached/semidetached, town/row & duplexes accepted)
This product will not be considered for clients that:
· are prior bankrupts or consumer proposals
· have high credit card balances or other consumer loan debt and at the same time with no assets and no evidence that they can save.
· have no assets to show for the length of their working careers
· Debt Servicing Ratios greater than 33 GDS/ 43 TDS (ask me if you are not sure)
Income Confirmation Policy for Zero Down Payment Mortgage
· Salaried / Hourly Income (continuously employed with their current employer and not currently on probation)
Generally accepted proof of income (salaried / hourly) may include a minimum of any 2 of the following:
· Current salary letter or pay stub
· Copy of the most recent: T-4 Slip, NOA, T-1 General Tax Return
Don’t spend time worrying if you qualify for zero down payment mortgage.
Give me a quick call at 647-892-5007 and I will go over the requirements with you. If you don’t meet the criteria, I can still likely match you with one of over 60 other lenders I work with.
Thank you for your business!
Your trusted Real Estate Agent,