In today's video, we'll answer a frequently asked question that is often posed by first-time home buyers & new buyers relocating to Vancouver, BC, Canada. We'll walk you through the 2 types of mortgages, Conventional & High-Ratio, as well as the minimum down payment requirements when purchasing a residential property in Vancouver, BC. Also, we'll be discussing how these down payment requirements may differ depending on whether you're a principal residence buyer or a residential property investor as well as how the purchase price could affect the minimum down payment required in order to obtain your financing.
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Link to the Gov't of Canada website: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
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If you have any questions or if you are looking for help regarding real estate in Vancouver, BC or Greater Vancouver, please reach out below using which ever way is most convenient for you. We also service residential & Commercial real estate sales in North Vancouver, West Vancouver, Burnaby, Richmond, Coquitlam and more Greater Vancouver Cities
