No Down Payment Mortgage
Saving for a 5% down payment to purchase a home can sometimes feel like an impossible financial goal to achieve.
We can help. CUA’s No Down Payment Mortgage is available to assist you in taking the next step towards home ownership, without having to save up the entire down payment.
How does it work?
It’s simple. The No Down Payment Mortgage can provide you with up to 5% of your home’s mortgage amount in the form of a loan or Line of Credit (LOC) to cover the costs of your down payment. On the closing day of your home’s purchase, you will receive 5% of the mortgage amount back in cash. Use that amount to pay down your loan or LOC, make home improvements, purchase furniture or cover closing costs.
How can I apply?
You can apply for our No Down Payment Mortgage by booking an appointment with one of our advisors either online, by phone or in one of our branches. To qualify, you’ll need to meet the borrowing criteria.
We can assist you in determining how debt repayments on both your mortgage and your personal loan can fit into your budget.