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Mortgages for Young Home Buyers
Many young home buyers often think that they can't get approved for a mortgage to purchase a home without a down payment. This is simply no true. As long as you have good credit and can prove job stability, there are programs in place to help you obtain a new home.
Both CMHC and Genworth Financial offer mortgage programs that allow 100% financing of your home purchase. The mortgage programs are designed to help people with good credit but no down payment achieve their objective of home ownership. Both programs require you to prove that you have 1.5% in closing costs. One of the best features of the no down payment mortgage is that home buyers qualify for fully discounted mortgage rates.
If you have further questions about obtaining a mortgage to purchase a new home please don't hesitate to contact us.
5 tips for young people wanting to purchase a home. |
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