If you're not ready this year, start by fixing your credit and saving small amounts toward your down payment. |
You will be expected to make a significant down payment, with the balance by agreed instalments over a short period. |
If you agree to assume those liabilities however, you can reduce your out-of-pocket down payment by that much. |
To determine the amount of the wraparound mortgage, deduct your down payment from the purchase price. |
The Jacobses found a federally funded program that helped them with their down payment. |
What savings they do have is normally earmarked for an eventual down payment on a house or condo. |