Getting the Down Payment Down.
A down payment is one of the most essential aspects of every mortgage application and new home purchase. In Canada, home purchases require a minimum cash payment from your own funds that is put towards the purchase. This is your down payment and is considered your stake in the deal.
Many home buyers understand that a certain amount of money down will be required on a home. However, most don’t realize the ins-and-outs of down payments, such as where the funds are allowed to come from and ensuring a proper paper trail.
Here are a few things to keep in mind while preparing your down payment and working towards your perfect home!
Original Article Source Credits: Dominion Lending Centres , https://dominionlending.ca/
Article Written By: DLC Marketing Team
Original Article Posted on: May 18, 2021
Link to Original Article: https://dominionlending.ca/mortgage-tips/getting-the-down-payment-down