NO MONEY DOWN / 5% CASH BACK MORTGAGE
Insular Park Financial is committed to finding
mortgage financing solutions for it clients. To achieve this goal we have the
following mortgage financing solutions for those clients whether they are first
time / repeat buyers or renters. 
1 NO
MONEY DOWN MORTGAGE
( 0 DOWN PAYMENT)
2 UP TO
5% CASH BACK MORTGAGE
If you are renting check how much you have
given away as rent the last few years.
Monthly Rent 1
Year 2 Years 3 Years
$1200 $14,400 $28,800 $30,200
$1300 $15,600 $31,200 $45,600
$1400 $16,800 $33,600 $50,400
$1500 $18,000 $36,000 $54,000
We can help you buy your dream home with
NO MONEY DOWN!
To determine the suitability please answer
the following questions
·
Are
you renting?
·
Have
a full time job?
·
Pays
your bills on time?
·
Paying
your Landlords mortgage
If you answer YES to all
of the above questions then we can help you buy your dream home with a ZERO DOWN PAYMENT!
Key Features of our NO MONEY DOWN MORTGAGE
DOWN PAYMENT: Your Down Payment: We will advance 5%
of the property lending value to the solicitor on the funding date, in addition
to the mortgage advance*
TERM / RATE: Posted 5-year Term/rate and a 0.50%
rate discount for 7-year term**
Eligible Properties:
• New (completion only) or existing properties
• Purchase transactions, single advance only
• Owner occupied single family unit and duplexes
Borrower Qualifications
•Applicants must meet our guidelines and
Canada Mortgage and Housing Corporation (CMHC)/Genworth Financial Canada
(Genworth) lending and credit
criteria
•Maximum number of borrowers is two
•Minimum Beacon Score of 680
Equity Requirements
Borrowers must have, from their own
resources, liquid assets of 1.5% of purchase price to cover closing costs.
These funds should be in place at time of application approval.
Payment Frequencies
Monthly,
weekly, bi-weekly and semi-monthly
Sample payment on our NO
MONEY DOWN MORTGAGE
Mortgage Bi weekly
Amount Payment*
$225,000 $614.00
$250,000 $682.00
$275,000 $750.00
$300,000 $818.00
$325,000 $886.00
$350,000 $954.00
*
Rates at the time of advertising. Payments calculated on a 5 yr term at 5.19%
amortized over 30 years. OAC All may not qualify. Call for details.