No Down Payment

Borrowed/ No Down-Payment

Saving enough money for a 5% down-payment is difficult, especially for young people that have recently entered the workforce. If you want to buy now, without saving your own down-payment there are two different solutions available.


The Borrower receives a five year fixed mortgage at the lender’s posted (non-discounted) interest rate.
The Lender gives the borrower 5% cash which is used for the down-payment.

The Borrower must make all the payments for 5 years or else be required to repay a portion of the cash that they received.


The borrower uses existing credit (lines of credit, credit cards, personal loans etc.) for the down-payment.

The borrower must be able to afford to pay the mortgage and the payments for the borrowed down-payment.

The borrower can have their choice of any of the lender’s available fixed or variable rate mortgages.
Each of these two options have advantages and disadvantages over the other. Please call Visdom Mortgage Solutions to discuss which one may work the best for you.

We really pride ourselves on bringing low mortgage rates and low fees to our customers – after all, the less you spend on your mortgage, the more you can spend on other important things in your life.

By simplifying the mortgage process, we’ve been able to find ways to keep the mortgage rates we offer lower than our competitors.

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