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4 Feb

No Down Payment? No Problem!


Posted by: Cory Lewis

No Down Payment?  No problem!

New RRSP Loan Program for 1st Time Home Buyers

Hoping to take advantage of the buyers market this spring but falling short on down payment funds? Traditional borrowed down payment options can be tough to qualify for and expensive. You’ve got to have perfect credit and be prepared to pay a premium on both your rate and default insurance fee to go this route. Perhaps you have already been declined by the bank – don’t fret,  there is another option.

I have a solution.

We are offering a program through one of our lending partners to help you save your down payment through an RRSP loan.

How does it work?

Call me. I can start an application to qualify  you for up to a $25,000 RRSP loan and start the mortgage preapproval process at the same time. Once approved,  you must wait a minimum  of 90 days before making an offer.  After this time you can then withdraw these funds as a down payment tax free through the First Time Home Buyers Program. 

Bonus! You have access to standard insurance premiums, qualifying guidelines, and best rates!  

Bonus! You get yourself into the spring market! 

 Bonus! You receive a 2018 personal tax adjustment! 

Call me anytime if you would like to chat further about this option or have any questions. It is always a pleasure hearing from you.