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No Money Down

Saving enough for a down payment on a mortgage can be nearly impossible. The good news is that you can take advantage of a Canadian mortgage company’s program that allows you to finance 95 percent of a property’s value with zero money down. With the only upfront expenses being the home appraisal and legal fees, you may be able to purchase a home sooner than you think.
You have to meet the following requirements to qualify:

  • Good credit: You cannot have anything worse than a one-month late payment on any credit cards in the last two years. Your credit history cannot include any late payments on loans or mortgages. Also, you cannot have any bankruptcies in the past seven years, or any orderly debt payment.
  • Consistent work history: You must have spent at least two years in the same line of work, and must have spent a minimum of the last six months with your current employer.

Simply fill out Popular Mortgages’ easy-to-use secure no money down mortgage application to see if you are approved for this Canadian mortgage program.