Mortgage High Ratio Insurance 101-How can you purchase property without 20% down?
Your first home.
Some borrowers believe they need 20% to purchase real estate. Not only do you not require 20%, but there are programs to help you achieve ownership with the least amount possible being 5% only.
Subsequent or Additional Properties
Most people believe they need to have a substantial down payment to be able to purchase additional property. The reality is you do not need 20% down to purchase subsequent properties. With 'Mortgage Insurance' programs, a borrower is able to purchase additional properties with as little as 5% down.
Here's how:
GENWORTH'S Home Owner Family Plan
Buying a home for a family member without 20% down.
Some borrowers believe they need 20% to purchase real estate. Not only do you not require 20%, but there are programs to help you achieve ownership with the least amount possible being 5% only.
Subsequent or Additional Properties
Most people believe they need to have a substantial down payment to be able to purchase additional property. The reality is you do not need 20% down to purchase subsequent properties. With 'Mortgage Insurance' programs, a borrower is able to purchase additional properties with as little as 5% down.
Here's how:
GENWORTH'S Home Owner Family Plan
Buying a home for a family member without 20% down.
Genworth's HomeOpeners, Vacation Home Programs
Purchase a vacation property with as little as 5% down.
HomeOpeners®: Secondary Homes Program
Genworth Canada’s Secondary Homes Program allows qualified homebuyers to purchase a secondary home, with one manageable mortgage and with as little as a five per cent down payment.
HomeOpeners®: Progress Advance Program
Building a custom home with less than 20% down through Genworth.
