Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

Mike Oxlong · 05-22-2009, 03:22 PM

Here's a link to CMHC's guidelines:
http://www.cmhc-schl.gc.ca/en/hoficl...e-03-27-09.pdf

Down payments can come from borrowed sources provided it is between a 5% and 10% down payment.
(Page 2 under downpayments)

If you are borrowing funds to get to that magic 20% mark then it isn't CMHC guidelines you are worried about it is the lenders. A lot of lenders will allow you to borrow the down payment provided the additional debt load you are taking on does not screw up the debt ratios.

05-22-2009, 03:22 PM	#84
Mike Oxlong Got Oliver Klozoff Join Date: Feb 2003 Exp:	Here's a link to CMHC's guidelines: http://www.cmhc-schl.gc.ca/en/hoficl...e-03-27-09.pdf Down payments can come from borrowed sources provided it is between a 5% and 10% down payment. (Page 2 under downpayments) If you are borrowing funds to get to that magic 20% mark then it isn't CMHC guidelines you are worried about it is the lenders. A lot of lenders will allow you to borrow the down payment provided the additional debt load you are taking on does not screw up the debt ratios. Last edited by Mike Oxlong; 05-22-2009 at 03:27 PM.