Looking to purchase a cottage?
The Vacation / Secondary Home Program allows borrowers to purchase a second home with an affordable monthly payment with 5% down payment.
Secondary Homes (Type A)
- Maximum 1 unit
- The property must be owner-occupied or occupied by an immediate family member
- New construction covered by a lender approved New Home Warranty Program*
- Existing resale properties
- Readily marketable residential dwellings, located in markets with demonstrated ongoing re-sale demand
- Estimated remaining economic life of the property should be a minimum of 25 years
Vacation Homes (Type B)
- Property characteristics same as Type A properties except for the following;
- Property need not be winterized
- Seasonal access permitted (road not plowed during winter
Questions….contact Denise today! 416-629-5363•Maybe that dream is just around the corner! Let Denise help you to homeownership!