Episode 11 Transcript – $0 Down mortgages

You are live with Jessi Johnson. Over the past few years a number of people have accessed the zero down mortgage option which is accessible previously through CMHC and Genworth. Until recently it has been available to relatively anyone with good credit. Sub prime lenders did offer this mortgage package although being sub prime it was quite pricey. Regardless, this is still an option even though the current legislation is changing and they will be suggesting 5% as the minimum. Now if you ask me, anyone who doesn’t have 5% down probably shouldn’t be buying a mortgage in the first place. For all those appropriate circumstances where you can purchase a property when you know the markets going to skyrocket and I’m sure a lot of people did very well with the past 5 years in Vancouver. Anyways my point is, AIG, another insurance company similar to Genworth and CMHC currently has not jumped ship and they are still offering zero down mortgages. Give me a call and I can access your portfolio and see if this is something that is a possibility for you. You can contact me at www.firsthomeinfo.ca and have a good day. I’m Jessi Johnson. Bye.