Variable | 2.75% | 2.15% | 0.60% |
1 Year | 3.65% | 2.49% | 1.16% |
2 Years | 3.95% | 2.95% | 1.00% |
3 Years | 4.70% | 3.45% | 1.25% |
4 Years | 5.34% | 4.09% | 1.25% |
5 Years | 5.49% | 3.99% | 1.50% |
6 Years | 6.45% | 5.25% | 1.20% |
10 Years | 6.30% | 4.99% | 1.31% |
15 Years | 7.55% | 6.90% | 0.65% |
25 Years | 8.25% | 7.00% | 1.25% |
Prime: 2.75%
**Rates subject to change without notice Last Updated: Tuesday, July 27, 2010
**Rates subject to change without notice Last Updated: Tuesday, July 27, 2010
For many first time buyers the largest obstacle when purchasing a home is saving up for the down payment. For young couples and young professionals who are just starting out, a zero-down mortgage is an excellent way to gain entry into home ownership. If you have steady employment and good credit, this may be a great option for you. There is a wide variety of zero down options including some which provide cash back. This cash can be put towards student loan payments, purchasing furniture, legal fees or anything else you may need.
Zero down mortgages are ideal for:
- Professionals and other income earners just starting out who may have large student loans.
- Renters who often worry they won’t be able to find an affordable home by the time they’ve saved for a down payment.
- Those with steady employment and good credit that would rather use their savings for other purposes.
Travis Kulasekere B. Comm |
