Can I still get a Zero Down Mortgage?

Video Transcript:

Hi. I’m Matt Robinson, Founder of Freedom First Mortgage Solutions and powered by Dominion Lending Centres.  In today’s video, #1 of our 16 part Zero Down Mortgage series,  I am going to answer the question “Can I still get a Zero Down Mortgage?”   The answer is both yes and no.  Let me explain.

The Government of Canada pulled the plug on what they termed as Zero Down Mortgages back in 2008.  That said, they did not pull the plug on all of the options that can be used to still make for a purchase with no money down.  So, while they are no longer called Zero Down mortgages, they are still very much alive.

They are now called a “Flex Down” or a “Non-Traditional Down Payment” mortgage and there are two ways they can work.  The first is where you come up with the down payment from a non-traditional source such as borrowing from a line of credit or a loan though we have to keep in mind that any payments associated with these borrowed funds must be included in the qualification measures.

The second and more popular option is where the lender actually gives you the down payment – that’s right, they give the 5% down payment on your behalf.   I am going to show you how you can qualify for one of your own within this video series that you have been sent.

I hope you enjoyed this video.  If you did and would like to receive all 16  FREE “Zero Down” videos in the series and a copy of our shopping around form that explains exactly what you should be looking for when searching out a mortgage, visit www.ZeroDownInBC.com.  Also, as an added bonus, if you choose to let me become your preferred Mortgage Planner, and you use one of my Realtor partners for your home purchase, you are going to receive a cash-back bonus of up to $2,000 upon completion of your deal.  Watch for the video in the series that explains the details.