Monday, October 29, 2007
100% Fiancing on Rental Properties
Cmhc announced a new program which will now allow investors to buy a home with no money down. If you are looking to buy real estate for rental, this is a great new program. This is a true 100% financing option. Investors will only need to pay for legal fees and property purchase tax where applicable. Longer amortization are available, up to 40 years. All of the fixed interest mortgage rates are available. If you would like to go variable interest mortgage rate, you will need to put 10% down payment. This program is available for 1-4 units.