Borrowed Downpayment

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The mortgage solution for  clients who want to borrow their downpayment and purchase a home sooner without have to save the downpayment

You have the ability to borrow the required downpayment from a personal line of credit, credit card (s) or any other source.  This will be included in your liabilities and will allow you to debt service the payment within your application. (OAC)

With this opportunity, it will allow you to borrow up 5% of your downpayment.  One of the major advantages of 95% financing, this downpayment will not be amortized with your mortgage payment where as this is the cash with the no downpayment/cash-back programs.  This way will potentially save you money in interest charges.

Contact Freedom Mortgages Group today to see whether you can qualify to this program!