MORTGAGE PROGRAMS
A plan for everyone.
We want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
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Now, more than ever, financial institutions are regularly launching new products and programs, making it easier to get into that new home sooner. Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making homeownership a reality for more people than ever.
Whether you are a first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres have access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Home Buyers Plan
The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $35,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.
New to Canada
Qualified homebuyers who have immigrated or relocated to Canada within the last 5 years are eligible under Genworth Canada’s New to Canada program to purchase a property with as little as a 5% down payment.
Purchase Plus Improvements
CMHC Improvement allows the purchase of an existing residential property with improvements and new construction financing. Features include flexible financing options with the option for CMHC to manage up to 4 advances at no cost to the borrower.
Self-Employed
This program is designed for self-employed borrowers who are unable to provide traditional income verification but have a proven 2-year history of managing their credit and finances responsibly.
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Borrowed Down Payment
Genworth Canada’s Borrowed Down Payment Program helps make it possible for a borrower to start building equity in your own home without having to save for years.
CHIP Reverse Mortgage
Every Canadian deserves to live retirements on their terms. Stay in your home and access the equity you need today, without making any payments until you sell.
Vacation or Second Home
The Vacation / Secondary Home Program allows borrowers to purchase a second home with an affordable monthly payment with a 5% down payment.
New Construction
This program lets residential home builders and individual homebuyers take advantage of insured progress advances while the property is being built. Mortgage insurance is based on the lesser of the market value of the work in place or the cost to complete.