100% Financing Options Abbotsford and Chilliwack Mortgages

Abbotsford and Chilliwack 100% Financing

Purchasing a property in Abbotsford and Chilliwack generally requires a minimum down payment of 5%, applicable to both homes and condos. If you’re considering buying land, be prepared for a higher down payment requirement, ranging from 25% to 50%. The larger your down payment, the more favorable your interest rate might be, and the greater the potential loan balance you could secure. Importantly, with a 20% down payment, you can avoid the need for mortgage insurance.

There are strategies for 100% mortgage financing, utilizing various financial resources. These could include an unsecured line of credit, a standard mortgage, a personal loan, a cash gift from family, leveraging the equity in an existing property, or even using credit cards. Additionally, it’s possible to withdraw a significant amount from your RRSP for a down payment without incurring a tax penalty.

For professional advice on navigating mortgage options, Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack is a valuable resource. Offering complimentary consultations and access to an extensive network of lenders, our team is dedicated to transparency and honesty in all dealings. We cater to a wide range of clients, including those with limited or poor credit, guiding you through the entire mortgage application process. We’ll clarify all aspects, including any fees and potential risks associated with various mortgage products. Choose Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack as your go-to mortgage broker for tailored solutions and expert guidance.

Call us today 778-800-0022 to get started on your new home in Abbotsford and Chilliwack and your mortgage approval.

Apply now to see which option will best suit your needs.