Providing you have decent credit, you can buy a house in Ontario with as little as 5% down… as long as it’s not an income property. You can buy your primary residence, a second home for a relative, a home for your kids, a cottage, etc… all with as little as 5% down.
For example, if you are purchasing a home for $900,000, you’ll need 5% on the first $500,000 ($25,000), and then 10% of the additional $400,000 ($40,000) for a total of $65,000 down. Note that buying with less than 20% down will require mortgage default insurance (CMHC).
Simplyfillour online application, when we receive it, and then we’ll get back to you within 9 business hours to let you know how much you will qualify for and offer you one of the best mortgage rates around. It’s that simple!