Zero Down Strategy (Residential Property) Canada

100% Financing is no longer available through CMHC, Genworth or AIG. However, you can still do 100% financing using the follow methods:
1. CMHC
 insured mortgages will
 allow 
5% 
down
payment
 to 
come 
from
 Non
-traditional 
sources:
a. Gift
 from 
family 
member
b. Borrowed
 funds
–
LOC,
loan,
but 
payments 
must 
be 
included 
in 
TDS 
calculation
c. 5% 
Cash
back
 from 
Lender
–
  Currently
 there are [...]

Renewing or Refinance Citi Financial Mortgage?

Do you have a Citi bank mortgage up for renewal? Contact us and let us help.
With the financial crisis in the States, Citi Financial has officially pulled out from subprime lending and cut their broker channel last year 2008 November.
If you currently have a Citi Financial mortgage up for renewal, even it is at [...]

100% Financing – Purchase or Refinance

New Update: 100% available, rate ranges between 9.0% – 12%, first mortgage only.
As long as the applicant has credit score of 640 or higher, with minimum 3 tradelines and 1 with 36 months history, he/she can qualify for the 100% financing or 100% refiannce if he/she can debt service.
For thie program, because the lender self-insures, [...]

No more 100% Refinance (Citi Financial pulled out 100% Refi)

Beginning on Monday, November 10th, CitiFinancial Canada will no longer make loans above 95% loan-to-value. 95% loan-to-value uninsured refinances will still be available through CitiFinancial branches, but no longer through brokers.
Therefore, as of November 10th, 100% refinance will no longer exist. Citi Financial has been the only one that will do 100% [...]

Tip 4 – Commercial Properties at 100% Financing

With our relationship to local lenders, we have access to get you a 100% financing for an owner-occupied commercial properties.
Thus, if you run a business and currently lease the place. You should look deeper to this opportunity. The lender would require to see that you have been successfully paying a similar [...]

Tip 4 – Commercial Properties at 100% Financing

Thru specific local lenders, we have access to get you a 100% financing for an owner-occuipied commercial properties.
Thus, if you run a business and currently lease the place. You should look deeper to this opportunity. The lender would require to see that you have been successfully paying a similar amount of [...]

Tip 3 – 100% Financing Buy Undervalued Property and Refinance

This tip would generally apply on real estate investors. If the appraised value is at $500,000 and you are purchasing it for $400,000. There is a $100,000 built-in equity.
What you can do is to use a short-term money source as down payment to purchase the house at $400,000. And you follow one of these second [...]

Tip 3 – 100% Financing Buy Undervalued Property and Refinance

This tip would generally apply on real estate investors. If the appraised value is at $500,000 and you are purchasing it for $400,000. There is a $100,000 built-in equity.
What you can do is to use a short-term money source as down payment to purchase the house at $400,000. And you follow one of these second [...]

Tip 2 – 100% Financing 95% mortgage with 5% Cash Back

With specific lenders through broker channel, you may do a 95% financing with 5% cash back option for closing cost or renovation. This product is still around.
The key thing here is that this 5% cash back cannot be used as down payment. Thus, you will need to come up 5% cash as down payment. The [...]

Tip 2 – 100% Financing 95% mortgage with 5% Cash Back

With specific lenders through broker channel, you may do a 95% financing with 5% cash back option for closing cost or renovation. This product is still around.
The key thing here is that this 5% cash back cannot be used as down payment. Thus, you will need to come up 5% cash as down payment. The [...]