Zero Down Mortgage in Manitoba (5% Cash Back Mortgage)

The costs of renting a home here in Manitoba does not allow most families to save much money. This is one of the biggest obstacles to home ownership we see. When the federal government stopped allowing the zero down mortgage in Manitoba, many families thought they had missed their opportunity to get into the market. Luckily buying a home with no money down in Manitoba is still possible with our 5% Cash Back Mortgage. This mortgage is perfect for first time buyers who want to get into the market but haven't been able to save the down payment they need.

Although you still technically require 5% down when you purchase a home today; the 5% cash back mortgage satisfies this condition by giving the client the 5% they need. Through slightly higher interest rates on the mortgage, the 5% is then paid back to the lender over the 5 year term of the mortgage. The 5% cash back basically works like a loan that you pay down at the same time as your principal. So what does this all mean to the client? You can still buy a home with a zero down mortgage in Manitoba!

If you would like to start building equity in your own home as opposed to your landlords call us or try our online free pre approval to see if the zero down mortgage in Manitoba may be an option for you.

Manitoba Mortgage Brokers