Zero Down - "Purchase or Refinance with Improvement"

All Canadians have access to the Zero Down Payment program. Here is one that you can fully utilize "Purchase Plus Improvement" mortgage.


The program is offered by CHMC, Genworth, and AIG.
http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/hopr/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=125831


You can be qualified with or without income proof.

If you are self-employed, you will be eligible with 680 beacon score.

You will need a proof of 1.5% of purchase price in your savings account.


It is an excellent program if you are doing improvement on the house and at the same time, utilizing the zero down to make the purchase and improvements.


EXAMPLE 1.

Purchase Price : $225,000
Improvements to do: $30,000 (kitchen) + $20,000 (bathrooms)

E-mail 1dayapproval@gmail.com


APPLICATION PROCESS

We will arrange your application with suitable lender and assist you in advancing $225,000 to purchase the home.

Your improvement plan will be reviewed by appraiser, sent by the selected lender, to evaluate the value of your property "after improvement".

You first do kitchen, hire a qualified contractor, keep the bill, and upon completion of the project, the lender will send out the appraiser to examine the improvement and notify the lender and lawyer to advance your contruction cost of $30,000 for kitchen.

You then do the bathrooms. Upon completion, appraiser will be sent again and examine the work being done. Assuming everything is aligned, you will get the money $20,000 that has already incurred for doing your bathrooms.


To learn more about this or to apply for Purchase or Refinance with Improvements program. Simply email us at 1dayapproval@gmail.com