CMHC

PROGRAM HIGHLIGHTS:

• 5% Down payment can come from any source, such as borrowed funds, lender cash back incentives, provided the funds are arm¹s length and not tied to the purchase or sale of the property.
• CMHC premium is 2.90% Must have 1.50% of the purchase price available from non borrowedbresources to cover closing cost
• Clients may select any term they wish including variable rate mortgages.
• Best discounted rate applies (except where down paymentis Cutback from a lender)
• Owner occupied properties only
• Must have clean credit
• No guarantors allowed
• Minimum Beacon Score of 680

GE CAPITAL

PROGRAM HIGHLIGHTS:

• 5% Cash back - to be used for the down payment GE Capital premium is 2.90%

• Must have 1.50% of the purchase price available from non borrowed resources to cover the closing cost
• 5 year term at posted rate
• 7 year term at posted rate less .50%

  • Owner occupied properties only

  • Must have clean credit

  • No guarantors allowed

  • Minimum Beacon Score of 680

  ALTERNATIVE FINANCING FOR $0 DOWN PAYMENT

• 3 year term at 7.70 **

• 5 year term at 8.05% **

• Insurance premium is 4.00%

• Owner occupied only

• No guarantors allowed

No former bankruptcies, although some slow credit will be considered.  Must have 1.50% of the purchase price available from non borrowed resources to cover the closing cost

** Rates subject to change without notice.