Tired of renting, but struggling to save the minimum 5% for the down payment of a new home?

Saving for a down payment is one of the biggest obstacles between first-time buyers and home ownership. Luckily, purchasing a home with 0% down is possible. Of course, we still need to confirm you have a good credit history and a credit score high enough to qualify for the program. Our flexible down payment works with lenders that allow you borrow your down payment. Your borrowed down payment can come from a line or credit or a personal loan. Your line of credit or loan repayment will be factored into your debt ratio before approval- you must be able to afford to pay it back in addition to your mortgage payments.

There has got to be a catch right? The high ratio insurance fees are slightly higher than if you used your own funds for the minimum 5% down payment. These costs can easily be offset by getting into a property a few years earlier than if you were to save the money while renting. Keep in mind, there will still be regular closing costs such as legal fees, moving costs, and different charges for setting up utilities and everything else you’ll need in your new place, so its still important to have some savings!

If you need help improving your credit score to qualify for one of these programs, we are happy to do a consultation with you to help you get started on the right path to being approved. Call us today for more information! Raelene 306.830.4144 or Jill 780.872.2914