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  Canada Immigration Forum > About Canada > Real Estate & Mortgages > Buying a Condo without any downpayment , is it possible ?
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Buying a Condo without any downpayment , is it possible ?




lemon925
Senior Desi
Member since: May 15




Posts: 202
Location: Toronto


You forgot to add..

Property Tax - 200-300$
Insurance - 50-100$
Utility - 100-150$

Also, Did you tell your Bank advisor that you are not going to put 20%, with 5% down payment, I guess maximum you can get 25yr amortization.


 
Post ID: 230963 13-04-16 12:13:47
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SinghRealEstate
Junior Desi
Member since: Oct 18




Posts: 1
Location: GTA


Advertising information edited out

 
Last edited by: Monica.admin on 15-10-18 16:18:50
Post ID: 237284 07-10-18 14:36:42
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Full House
Senior Desi
Member since: Oct 12




Posts: 2449
Location:




CMHC
https://www.cmhc-schl.gc.ca/en/nhs/guidepage-strategy/help-and-resources

You earn a good salary. Now see what it is that you can afford as per the Calculations that are done by a Mortgage agent.:
https://www.moneyunder30.com/how-much-house-can-you-afford


There are good lenders and there are GREAT Lenders too. Check these websites and get to know them.
http://advancedmortgagesolutions.ca/home-purchase/home-purchase-calculators/

TRUE NORTH.:
https://www.truenorthmortgage.ca/mortgage-solutions/investment-properties

A test that is done to find out how much it will cost.:
http://www.truenorthmortgage.ca/tnm-calculators/payment-calculator.html


Hope this helps you find out what it is that you earn as a salary and what you can afford to pay to live in it comfortably for the duration of the mortgage.

FH.


 
Last edited by: Full House on 07-10-18 21:20:11
Post ID: 237285 07-10-18 21:17:05
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Contributors:
AshwaniG(1)  Fido(1)  Full House(3)  GlobalIndian(1)  Gurram(1)  Kacchu(3)  lemon925(1)  
meitsme(1)  SinghRealEstate(1)  
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