With some financial institutions, it is possible to obtain a loan for the acquisition of a property and to receive an additional sum of money that represents a percentage of the overall loan.
Typically, the discount offer is 2% to 5% of the amount borrowed. Terms offered are five to ten years.
Sometimes you may be offered cash back on the loan you are offered. But this comes with conditions.
Qualifying interest rate: moving from renter to homeowner.
For a few years now, the federal government has introduced a new mortgage eligibility rule for anyone who wants to apply for a loan to buy a property. It is therefore important to be prepared and to take into account the new mortgage rules.