We can help people in Ajax, Pickering, Oshawa and across the GTA High Debt Ratio Mortgages and Lending.
High-debt ratio loans have become popular in the mortgage business recently and for good reason. They can be very beneficial for people in the GTA who have a steady income and cash flow but do not have enough money for a large down payment, or for those who can afford the down payment but choose to spend less and keep more cash on hand.
Conventional mortgages typically require a 20 to 25% down payment, as lenders traditionally will not loan more than 75 – 80%, but it’s still possible to obtain high-debt ratio loans if you don’t have enough to meet that requirement.
Loans for those with a high debt-to-income ratio include as little as a 5% down payment.
Let our experienced team work with you to determine what you can afford based on your exact needs.