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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.
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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