Don’t have the usual 25% down payment?
No worries – Increase your leverage with a high ratio mortgage! This consumer-oriented program makes the dream of home ownership a reality for more Canadians than ever before.

#1 What is it?
5% Down: Two programs are available that let you buy a home for as little as a 5% down payment. One is administered by GE Capital Mortgage Insurance Co., a private sector insurer, and the other by CMHC, a Federal Crown Corporation. Read carefully; the small print could create unexpected hitches! We would be pleased to guide you through the process.

#2 Free-Down Payment:
Some of the lenders in the Invis network have programs which are referred to as “Free-Down-Payment” Programs. In these scenarios, the rate is higher than the discounted rate, and is closer to – if not the actual – posted rate. The lender essentially provides you with a cashback of 5% which is the downpayment. The higher rate of interest paid over the mortgage term compensates for the downpayment covered by the lender.

#3 “Zero” Down:
One of our lenders will actually do a “Zero” down mortgage, however the catch is that there is an administration fee that has to be paid to the lender who administers the mortgage. The fee is added to the mortgage amount.

Who is Eligible?
These programs are no longer only available to first time home buyers. Anyone who meets the lending criteria outlined by the individual companies can qualify! For more information, click here!

#4 Use your RRSP
First Time Home Buyer? Don’t forget about the RRSP Home Buyer’s Plan. It can be all or part of your down payment. The rules have changed in recent years, so if you think you know them, double check here!