In the past if you wanted a no money down mortgage you would have had actuarially a mortgage for 95% with cash back of 5% and you would have to pay what we call posted rate. Posted rate is typically 1.5 to 1.75 percent higher than the current rates that you can get form a mortgage broker like us.
We now have true 100% mortgages in Canada, we are able to lend our clients the full purchase price of a home and offer them the best discounted rates going.
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