Did you know Canada.. RateSupermarket.ca has an amazing contest going on right now, you can win $5.000 towards a down payment on a first home! Wouldn't that be amazing!
Why is it so important to put as much as you can down on a new home? Well..
- Smaller payments! The more you put down on your home upfront, the smaller your mortgage payments will be and the less interest you'll be paying.
- No Insurance! By law, Canadian banks can only provide mortgage financing if you have a minimum 20% down payment, unless the mortgage is insured against default.
These are just a few of the many reasons why it's a fantastic idea to put down as much as you can on a new home. So, if you dream of owning a home, RateSupermarket.ca wants to make that a reality for one lucky winner - by BOOSTING your down payment with a $5000 cash prize!
Any home buyer can qualify for the giveaway. To enter, fill out the survey on RateSupermarket.ca here.
The giveaway lasts until November 10. Good luck to all you prospective CANADIAN home buyers!