Tuesday, January 06, 2009

Co-ownership property purchase and financing

Did you know...co-ownership properties can be financed through some mortgage lenders?

The banks are generally not interested in placing mortgages on this type of property; however, some mortgage brokers can assist buyers in arranging a mortgage at competitive rates.

The following general guidelines apply:

  • 30% down payment required
  • Application fee $250
  • Verifiable income
  • 32% GDS / 42% TDS
  • Extended amortization available (no surcharge)
  • Choice of payment frequency
  • Prepayment privileges available

If you are considering a co-ownership property purchase, please let me know and I will have my mortgage contact check to see if that particular property is on the lender's approved list of properties.

As usual, please let me know how I can help you!

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Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
8 Website : Mississauga4Sale.com

Homes for Sale

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