Canada Mortgage & Financial Group (CMFG) launched the “Deposit Program” early 2016 to give home-buyers and builders the opportunity to make home ownership a success. CMFG is the only brokerage in Canada that offers this program and it has been designed for clients purchasing from builders only.
The “Deposit Program” rapidly increases the percentage of pre-sales for builders while helping buyers securing their purchase. Builders typically require up to 20% down payment which is paid in increments.
CMFG will provide the shortfall portion of deposit and pre-approval mortgages to secure a firm purchase agreement for buyers – Some conditions apply.
The high percentage of pre-sales generated from the “Deposit Program” enable builders to obtain institutional finance instead of private funds for construction. CMFG partnership with lenders provides access to funds for land acquisition and construction finance at competitive pricing. In some cases, monthly payments are capped so that builders can focus on building and not having to worry about making that monthly payment.
The “Deposit Program” is also a cost-effective approach since buyers can borrow deposit amount at a fairly low rate compared to obtaining higher interest loans or credit card cash advances. Buyers will have one year to return borrowed funds with an option to renew.
To take advantage of this unique program, please contact Ameera at 647-242-9814 or email email@example.com