100% Financing Options Okotoks Mortgages

Okotoks 100 Financing

To buy a home in Okotoks, a down payment of at least 5% is typically required, whether you are buying a home or condo. If you opt to buy land, a down payment of 25-50% may be necessary. The more money you put down, the lower your interest rate may be and the larger your loan balance could be. With 20% down, mortgage insurance is not required.

However, it’s possible to buy a home with 100% mortgage financing by taking advantage of various financing options, such as an unsecured line of credit, a conventional mortgage, a personal loan or cash gift from a relative, or borrowing against the equity in a current home or credit cards. You can also take a large sum out of your RRSP without a tax penalty to use as a down payment.

For expert guidance on securing a mortgage, consider working with Whalen Mortgages Okotoks. We offer free consultations, a large network of lenders, and a commitment to transparency and honesty. We work with everyone, even those with no credit or bad credit, and will walk you through the mortgage application process, including any fees and risks associated with the mortgage products on the table. Trust Whalen Mortgages Okotoks to be your first choice for a Okotoks mortgage broker.

Call us today 587-441-9319 to get started on your new home in Okotoks and your mortgage approval.

Apply now to see which option will best suit your needs.