• Home
  • Testimonials
  • About Us
    • Top 10 reasons to use a mortgage broker
    • Why should you use a mortgage broker?
  • Calculators
    • House Purchase
    • Strata Purchase
    • House with Rental Income
    • Sale & Purchase
  • Mortgage
    • Pre-Approval
    • Purchase
    • Renewal >
      • Process
    • Mortgage Review
    • Terminology >
      • Mortgage Glossary
      • Appraisal
    • Mortgage 101 >
      • Amortization
      • Choosing a product
      • How The Penalty Is Calculated
      • Decorating Allowance
      • Mortgage Insurance
      • Mortgage Process
      • Payment Frequency
      • Power of Attorney
      • Qualifying Guidelines
      • 10 Most Commonly Asked Mortgage Questions
    • Income >
      • Salaried or Hourly Income >
        • Income Tax Notice of Assessment
      • Self Employed & Commissioned Income >
        • Income Tax Notice of Assessment
        • T1 General
        • Statement of Business Activities
        • BC Company Summary
      • Retirement Income >
        • Notice of Assessment
        • Old Age Security & Canadian Pension
        • T4A
      • Statement of Real Estate Rentals
    • Sell & Buy >
      • Example of Sale & Purchase break down
      • Bridge Financing
    • Down payment
    • Closing Costs >
      • Property Transfer Tax
      • Interest Adjustment
    • Resources >
      • Accountants
      • Appraisers
      • Land Title Office
      • Lawyers/Notaries
      • Home Insurance Agents
      • Property Tax Department
      • Bank of Canada
      • Canada Revene Agency, Track NOA
      • Mortgage Insurance
      • Calculators
  • Apply
    • Anti-Spam
    • Consent
  • Documents
    • Lta Form B
JIMMY KWON & LISA YUN DOMINION LENDING CENTRES
Cell:  604-808-1050        

Flex Down

Although the "zero" down payment program has been eliminated, there is an alternative option known as the flex down program.   The flex down program allows you to borrow your down payment (ie from a line of credit, credit cards, loan) and and the repayment on the borrowed funds have to be factored into the ratios that the bank use for qualification.  There is also a minimum credit score required.

Please note the lender will require confirmation that you have closing costs (typically 1.5% of the purchase price) from your own resources to cover costs such as lawyer fees, inspection, property transfer tax if applicable, etc.
The information and services offered on this Site are provided with the understanding that neither Dominion Lending Centres Inc., nor its suppliers or users are engaged in rendering legal or other professional services or advice. Although we strive for accuracy, timeliness and completeness, information quoted is not guaranteed and may change at any time and the information you obtain at this site is not, nor is it intended to be, legal advice.  If you require specific advice regarding your own situation please contact me for consultation.