New RBC lending programs for homebuyers with limited down payment
RBC has recently launched two mortgage programs that can help get purchasers who have limited down payment and a solid credit history into a home sooner. Through these programs, buyers with limited funds for down payment may be allowed to use borrowed funds or Mortgage Cash Back offers to assist them in meeting the 5% equity requirement for default insured mortgages.
Other important details of these new programs include:
- Available for home purchases only
- The property must be a owner occupied primary residence and all mortgage applicants must reside at the property
- Mortgage Cash Back and funds borrowed for down payment cannot exceed 5% of purchase price
- Available to clients for one mortgage only
I’m here to help your clients get the right advice
Understanding home financing options and affordability is especially important to first time buyers and other purchasers with limited funds for down payment. That’s where I can help by working with your clients to provide mortgage pre-approval, and offering tailored advice that meets their needs for today and the future.
For more information about how RBC can assist your clients with their home financing needs, please contact me today.
The following is a link to our Home, Mortgage and Lending Advice Centre. http://www.rbcadvicecentre.com/
Your new home doesn't come with mortgage advice. I do.
Contact me today:
Mobile Mortgage Specialist
RBC Royal Bank
®Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada