Are you interested in purchasing a vacation home?
Changing lifestyles affect decisions Canadians make on how and where they live. We know that today’s busy lifestyle requires more home ownership options whether it’s a second home in the city to reduce that weekly commute, or a cottage at the lake for weekend getaways.
This program allows current home owners the opportunity to purchase a second home with as little as 5% down payment whether it is another property in the city for your family to reside or a cottage out of town. The mortgage insurers have made it easier for more families to own multiple properties.
Borrower Qualification:
- We require a minimum credit bureau score of 650 on all applicants
- No prior bankruptcy or judgements
- No R3’s in the last 24 months
- Gifted down payments from immediate family members are acceptable
- No 3rd party guarantors for qualification purposes.
- Minimum 5% down payment, borrowed down payments are not permitted.