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Is It Possible to Get 5 Percent Mortgages in Toronto?
Can I Get a Home With Only a 5% Down Payment?
Looking to get your best home or just need a low deposit mortgage? We offer a variety of Five Percent Mortgages in Toronto aimed at helping our customers.
Yes! In Canada 5% is the most minimum down payment. This lower option than the regular 20% has both its benefits and disadvantages. Depending on the situation a 5% down payment is a more suitable option for some people than others. It allows you to pay a more affordable price at the very beginning. In some cases, paying a higher percentage upfront will not even be a financial possibility.
This Kind of Mortgage Has to Be Insured
One thing to keep in mind is that lower down payment mortgages have to be insured against the chance of default. The premium of the insurance may add substantially to the overall cost. In addition to that there are also appraisal and legal fees. Making a higher down payment means having lower costs later on.
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We Will Help You to Get 5% Down Payment Mortgage
At Toronto Mortgage Brokerage we guarantee the best prices with the most minimum fees. Making a large down payment can be hard or even impossible and we understand that. We want our customers to be happy and enjoy their home so we try to make the whole process as stress free as imaginable. You don’t have to give up financial security or sacrifice dreams.
Please don’t hesitate to contact us to turn all your goals into a reality. We will meet with you to assess your financial situation, your plans for the future, and any other needs and provide consultation services that will make you confident in your decision.