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100% residential mortgage financing in Canada

Insured 100% financing programs are no longer available in Canada. There are still insured 95% financing and 5% cash-back programs. Depending on the lender, that 5% cash back may be used as your down payment. However, you must be prepared to pay a higher rate, and you’d better have clean credit, Beacon score over 620, verifiable income and steady employment.

There are no longer any non-conforming institutional lenders who will go up to 100%.

A word of advice: Know your own real estate market and your own circumstances. If house prices where you are planning to buy are anticipated to drop in value, say up to 5 or 10%, do you really want to buy with only 5 or 10% down, even if the long range real estate value is likely to be up?

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