What we promise you

A first time home buyer’s mortgage with —

• Quick approval
• Low down payment
• Low interest rates 
• Flexible terms
• Favorable repayment terms

What you should do

1. Use our Maximum Mortgage qualifier to know how much you qualify for. Factors that affect the amount you can borrow —
   • Amortization period
   • Borrowing rate 
   • Your gross income
   • All other debt payments plus your current mortgage payment
2. Submit an online pre-approval application.

FAQs

Here are some quick facts for a second home mortgage to help you get started —

• • What is the least down payment for a Second Home?

At least 5% of the sale price of your home. If you have 5 to 19% down payment, you will need mortgage insurance. No mortgage insurance, if your down payment is 20% or more.

• • What is the required down payment if my credit is bad?

If credit is bad or challenged, you will need  at least 20% down. Sometimes we can find a mortgage solution with only 15% down if the home is in a major city.

• • What is a second home mortgage?

A mortgage on a second home or vacation property. A family member must occupy a 2nd home, rent free.

• • What is the most important step for a second home buyer?

You need to qualify by affording the mortgage payments, property tax and heating costs on 2 homes.  It is best to get pre qualified by a mortgage broker or bank before you decide to look for a property. We would be happy to discuss this with you.  We help you determine your qualification and how much of a home you can afford.