5% Down payment can come from any source, such as borrowed funds, lender cash back incentives, provided the funds are armıs 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
