Get into your dream home with a High-ratio Mortgage.
Secure financing with a smaller down payment. Make your homeownership dreams a reality.
What is a High-ratio Mortgage?
A High-ratio Mortgage is a type of mortgage that allows homebuyers to secure financing with a smaller down payment. In Canada, a High-ratio Mortgage is one where the down payment is less than 20% of the purchase price of the home. With a High-ratio Mortgage, borrowers are required to purchase mortgage insurance to protect the lender in case of default.
Benefits of a High-ratio Mortgage
One of the main benefits of a High-ratio Mortgage is the ability to get into a home with a smaller down payment. This can be especially beneficial for first-time homebuyers or those who are unable to save a large down payment. Additionally, High-ratio Mortgages typically have lower interest rates than other types of financing, making them more affordable for borrowers.
Is a High-ratio Mortgage right for you?
If you are looking to purchase a home but have a smaller down payment, a High-ratio Mortgage may be the right choice for you. This type of mortgage is ideal for first-time homebuyers or those who are unable to save a large down payment. However, it is important to remember that mortgage insurance is required for High-ratio Mortgages, which can increase your monthly payments.
Apply for a High-ratio Mortgage today and make your homeownership dreams a reality. With lower interest rates and the ability to purchase a home with a smaller down payment, a High-ratio Mortgage can help you get into your dream home faster.