Can I buy a house with no down payment?

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How can I buy a house with no down payment in Canada?

Rounding it up

  • Down payments are a good gauge as to whether you can afford a home or not.

  • It’s possible to get a zero down payment mortgage in Canada, but it involves borrowing the down payment, which can be financially dangerous.

  • That’s because by opting for a zero down payment mortgage, you’ll have no home equity cushion.

  • Plus, you’ll be subject to high mortgage insurance payments on a far larger debt.

6 min read

Dan Bucherer
#mortgage#down payment#home ownership#loan

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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#mortgage

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