Purchases

Do you have a client looking to purchase a property but may be short on a sufficient down-payment?

In terms of down payment, we accept the following:

  • The down payment may be equity from another property. Please note that secondary financing may be permitted up to 100% Loan to Value (LTV) behind our maximum approval
  • Gift of Equity (Non-Arms Length Accepted)
  • Borrowed Funds
  • Builder’s Credit
  • Accumulated Rent Credit
  • Sweat Equity
  • Bridge Financing
  • Vendor Take-Back or Secondary Financing

*Please note: New Haven does not require the client to show a 90-day history in their bank account*

Additionally, the down-payment for this type of loan can be borrowed. If there is insufficient equity in the subject property we will accept satisfactory additional security otherwise known as a collateral mortgage.

READY FOR A CHAT?

Brokerage License No.: 10588
Administrator’s License No.: 11284