If you are wanting to enter the housing market but are without down payment, we might have the solution for you! A borrowed down payment. Typically we refer to this type of mortgage as a “Flex Down” mortgage. Typically, this allows you to borrow the down payment from a Line of Credit, or direct loan from a bank as an example.
As long as your current income can support the repayment of the loan, along with the mortgage and other liability this might be the perfect solution.
Before borrowing funds to facilitate a mortgage down payment you should always consult a mortgage professional to make sure that you would qualify to use this type of solution.