Your home is where memories of a lifetime are forged with everyone you truly care for. The journey to the ownership of your first home is going to be one of the choicest and priceless experiences of your life. Note that the prospective owner is required to pay a minimum of 5% of the purchase price of the property that he or she intends to purchase in Canada.

However, you may also opt for a higher down payment amount and if you can finance 20% or more of your property purchase price, you are usually not required to purchase mortgage default insurance, also referred to as the Canada Mortgage and Housing Corporation (CMHC) insurance. Nevertheless, not every Canadian can save this much money in a lifetime.

Fortunately, with the overwhelming rise of alternative lending in Ontario and other provinces in recent times, now even borrowers with a poor credit history or without one are more likely to be considered for a low-down mortgage when working with a private lender.

Whether you have a credit score or not, with our extensive knowledge of the mortgage industry, low closing costs, and more flexible options (home loans of five- to thirty-year tenures) for first-time borrowers, owning the house of your dreams in the land of maple leaves will not remain a mere dream anymore!