Zero Down Mortgage in Vancouver - 5% Cash Back Mortgage

Although the true Zero Down Mortgage in Vancouver is now gone, you can still purchase a home with no money down; or at least none of your own money. The 5% Cash Back Mortgage is now the mortgage product of choice for first time home buyers here in Vancouver. The mortgage is a little different than the original Zero Down Mortgage in Vancouver from the insurers (CMHC) perspective but to the client the mortgage really accomplishes the same thing. With the 5% Cash Back Mortgage, the lender gives you the 5% you need for down payment, and you pay them back over the next 5 years through slightly higher interest payments on your mortgage.

Now if this sounds a little confusing don't worry, one of our Vancouver mortgage brokers will walk you through this mortgage product and how it works, but the important point is that buying a home with no money down is still possible with our 5% Cash Back Mortgage. So if you thought you missed the opportunity to get into the housing market when the Zero Down Mortgage in Vancouver was eliminated, we have good news for you, that door is still open.

Vancouver Mortgage Brokers