The first time you see the ad Scotia Bank 100% Mortgage Program, you may ask yourself…What’s the catch?
Perhaps Scotia Bank still requires the 20% down, but gives you the option of a line of credit?
OR…they really offer to finance you 100% BUT with rates a lot higher than the regular mortgages?
Something to ponder about.
The real answer is none of the above and it was confirmed this afternoon, after speaking with a mortgage specialist Nadine Emony from the Scotia Bank who informed me that the only thing needed in order to be eligible for a 100% Mortgage is to have very-good credit.
Not bad, uh?
In addition to that, you need to:
· Have a min of 2 years of good credit history with one of the major credit cards: Visa and/or Mastercard.
· Have a steady job.
There probably are a few more requirements to be eligible for a 100% mortgage, but for the most part, these are the two most important factors.
Information and link was kindly provided by Mortgage Specialist Nadine Emony. Visit her page for more details.
Posted by: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 
Hello
Great book. I just want to say what a fantastic thing you are doing! Good luck!
G’night
Wow I really wish this was possible in South Africa but here unless you paying full price in cash, one has to have a deposit.