Vacation Home
If you’re looking for that weekend or vacation home, the AG Mortgage Team has your borrowing needs covered with our Vacation Home Mortgage Solutions.
1
Types of properties qualified for Vacation Mortgage
Vacation properties come in many forms, such as a cottage or beach house that can be used by those who want a quick escape from their day-to-day life, and second homes like cabins are perfect if you plan to stay in one place longer than expected. These properties can be used by oneself or by family members.
2
Designed Mortgage Options
Our experts at AG Mortgage Team will consider your financing requirements and offer you a designed financing plan according to the property type and your usage.
3
Minimum Down Payment
AG Mortgage Team offers you financing up to 95% of your vacation home’s value, which means that you can own your vacation home with as low as a 5% down payment.
PROCEDURE OF BUYING HOME
REQUIRED DOCUMENTS FOR YOUR MORTGAGE
Current employment status and income amount as:
- Copy of current payroll.
- Proof of current electronic deposited pay.
- Associated Notice of Assessment (NOA) & T1 General.
- Additional income sources (if any).
- Prior employment status (if required).
- A List of your current assets and obligations.
- Bank account alongside transit number for payments.
- CIBC Pre-approved Mortgage Certificate (if valid).
- Statement of investments from within the latest 90 days or savings.
- Withdrawing an amount from RRSP through Homebuyer’s Plan (if valid).
- Gift letter.
- Copy of the sale agreement of a sold current asset.
- A copy of the real estate listing.
- A copy of the sale agreement and accepted purchase.
- Full address of the property (legal description and postal code).
- Tax estimates of the property, heating costs, and condo fees (commonly, you may find these details on the real estate listing).
- Well and septic certificate regarding rural properties.
- Lawyer’s full details (name – address – telephone and fax number – postal code).
Lending Partners
