Potential Sources of Down Payments include:

• Savings
• Borrowed RRSP’s (Government Programs)
• Non-repayable Gift from Family
• Flex-Down products -borrow on your credit cards/lines
• Free Down Payment lending programs (where available)
• Existing equity in the property if you are already on title

How much of a down payment is required?

The down payment is the difference between the purchase price, amount financed and closing costs. Most lenders look for 5-35% down, depending on what you are buying and your situation. Self-employed borrowers may be required to have 10% or more.

Talk to Caroline to develop a strategy to get your down payment in place and how much you'll need for the property you want.
Call 1-800-757-0412, 8 am to 8 pm Pacific Time.