At Residence Financial Inc. buying a home with no down payment is now possible, so stop paying your Landlord’s mortgage and start building your own equity.

Recently CMHC has changed their rules to allow 95% financing! There are two ways that you can receive 95% financing for your home. You have 5% required down payment .  In order to qualify you must have clean established credit history and good job tenure. If you are having trouble saving for a down payment then this mortgage may be for you.

There are also other alternative lending programs out there that do not lend using CMHC criteria. These programs cater to people who have slower credit history or do not have enough income to support the usual bank requirements. 95% financing is also available through these alternative lenders, but the interest rate is slightly higher. It may not be as attractive as the products offered under CHMC's guidelines, but it may be a better option than continuing to rent. In fact, many people go this route, selecting a smaller term, and using that time to re-establish their credit so that they can qualify for a CMHC product when their mortgage is up from renewal.

At Residence Finacial Inc. we work hard to find the right solutions for you!

There are 3 easy ways to apply with Residence Financial Inc 

 Click to apply now!
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