The Flex Down Payment Mortgage Program

The Flex Down Payment Mortgage Program

Individuals who have a proven record to be able to manage their debt
effectively and are making a good income but have not been able to save
for their down payment.

The Flex Down Mortgage Program allows the borrowers more sources to
obtain their minimum 5% down payment. Eligible sources of down payment
can be:

* lender cash back incentives
* personal loans, lines of credit or credit cards
* gifts or grants from any party that is arm's length

Good credit history with a qualified Beacon Score is required.

Insurance mortgage premium is 3.4%

Storefront/Apartment Mortgage Financing

Storefront/Apartment Mortgage

for new property purchase or refinance






Property types:



· MLS purchases only

· Marketable property

· MUST have a residential component

· Minimum down payment 15% on new purchase

· Minimum equity 10% on refinance







Lenders offer their best 3 & 5 Year Term Mortgage Rates based on down payment of 15%, 25%, 30% or 35%.




Lenders will consider mortgage applications based on new purchase, refinance, owner occupied or investor and loan-to-value to compensate for risk.



Some lenders may not require environmental or building reports.





20 years maximum amortization

2nd Mortgage Financing

2nd Mortgages Financing:


Up to 100% loan to value* for new purchase.


Up to 90% loan to value* for discharged bankrupts.


Up to 85% loan to value* bundled with 1st mortgage for purchase or refinance at one great Bundle Rate.

(2nd mortgage is fully open.)



* appraised value



Approval of Final loan to value % will be determined by product type and customer profile as per each lending policy.

2nd commercial mortgages financing is also available with private lenders.