Alex Lavender: Are zero down mortgages possible?

Despite what you may have heard zero down financing for mortgages really does exist.

There are quite a few options available for zero down financing. First and foremost. The easiest one is a gift from the Bank of Mom and Dad, or a gift from any immediate family member. The second option is borrowing it from yourself. So, if you have a line of credit, or a credit card, or some sort of loan that has access to the money for the down payment you can use this as well. Now in Nova Scotia we have a great program called the Nova Scotia Down Payment Assistance Program, where you can actually be provided a down payment over a ten year loan at 0 percent interest with no payments for the first year.

If you have any questions don’t hesitate to give me a call. I’d be happy to run through the options with you and see which ones are available and which ones work best for your exact situation.