• March 15, 2014

How To Get A No Money Down Mortgage In Ontario

 

It Takes A Little Money To Make A lot Of Money

We offer several traditional, non-traditional, and private down payment solutions. Through our unique system and extensive network throughout the financial, mortgage, credit, and private lending industry, we are able to tap into the various down payment options that are used by home buyers in order to show Canadians how to get a no money down mortgage in Ontario. How To Get A No Money Down Mortgage In Ontario

There are many advantages of using 'good debt' to purchase rental properties. But with all of its merits, 'good debt' has also been the downfall of many investors. So here are some vital tips that, if a few investors had known about then, would have ensured a better financial situation now and in the future:

  • ~Ensure that your cash outlay does not exceed your cash inflow.
  • ~Manage lines of credit. Lines of credit should only be for the short term and quickly replaced.
  • ~Ensure that the property always has positive cash flow.
  • ~Do not overspend on courses. Knowledge doesn't make you money, but the application of that knowledge does. So while it is absolutely essential to have the knowledge before you endeavour to invest in real estate, be aware that you will have to overcome whatever fears you have, come out of your comfort zone, and take action (i.e. apply for a mortgage, put many offers on properties, etc.).
  • ~Be prepared to call, meet, and negotiate with motivated sellers.

You may need to go into (good) debt to get a property. However, now that debt is reflected on your credit bureau and now increases your TDSR and GDSR, which affects your ability to get more deals.How To Get A No Money Down Mortgage In Ontario

A ‘no money down deal,’ zero down payment, and 100% financing all have the same thing in common: you are essentially using ‘other people’s money’ to buy or procure real estate.

Lines of credit, private mortgages, hard money loans, and seller financing (VTB’s) are just a few of the ways that investors purchase properties without using their personal savings for down payments.
Contact us for a $0 down payment strategy session today.How To Get A No Money Down Mortgage In Ontario

 

How To Get A No Money Down Mortgage In Ontario