Purchase Your Investment Property with No Money Down

Firstline Mortgages, a subsidiary of CIBC, is the first lender to offer zero down mortgages for rental properties. Mortgages will be insured by the Canadian Mortgage and Housing Corporation (CMHC). Previously, the minimum requirement was 10% down under Genworth’s Small Rental Programme.

To qualify, borrowers need good credit (min. of 680 beacon score) and proof of ability to support the debt. The property must meet Firstline and CMHC’s standard guidelines. Borrowers are will get Firstline’s best discounted interest rates. If you are interested in this programme, be sure to phone or email me for more details.

This entry was posted on January 18, 2008 at 10:54 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Purchase Your Investment Property with No Money Down”

  1. Sean Csomor Says:
    January 27, 2008 at 5:53 am

    Iam interested in learning more about obtaining a mortgage for rental purposes where can I find out more info?

    Thank You
    Sean

  2. vancouvermortgage Says:
    February 1, 2008 at 6:59 pm

    There are many real estate investment seminars. If you are in the Metro Vancouver area, you can attend Ozzie Jurock’s seminar ( reag.ca). I am always available to discuss your rental property investment. Good luck. John

  3. Fran Says:
    February 6, 2008 at 7:34 am

    After negotiating a deal, I ran up against the problem that I did not have the money to support the debt. Is there a formula that calculates what one needs to satisfy this mortgage requirement?

  4. vancouvermortgage Says:
    February 6, 2008 at 4:12 pm

    Yes, there is a formula that determines how much you qualify for. There are many factors involved such as your down payment, credit score, the lender, etc. It can be complicated so I suggest you discuss your situation with a mortgage broker.

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