Cash remittance to cover your start-up costs
When buying a home, you may incur start-up costs, such as transfer taxes, property taxes and moving expenses, representing 3% to 5% of the value of your home. We'll cover all or a portion of your start-up costs with up to $10,000 or the equivalent of 5.5% of your mortgage amount1.
How it works
When you're approved for a personal mortgage2, your interest rate will be increased3 slightly to reflect the amount you need.
Advantages
- Gives you financial flexibility to cover your estimated start-up costs
- More economical than a personal loan, line of credit or credit card
- The lower of the 2 amounts.
- For owner-occupants of residential buildings of 4 units or less.
- Payments must be within the maximum allowed Gross Debt Service and Total Debt Service ratios.