Shared Equity Mortgages 101
Posted by Kent Braaten on
Are you concerned with the current real estate market in Saskatoon? Have you been saving for a down payment but haven’t been able to qualify for a mortgage? Are you watching home prices rise and feeling like you may never get to a point where you can afford to buy a property?
No matter how disappointing it can feel, you are certainly not alone! Many first-time homebuyers often find themselves also unable to reach that initial mortgage qualification status. But did you know that there is alternative financing that may just be what you need? Let me introduce you to the shared equity mortgage.
What is Equity?
Okay, starting from the basics—in order to understand what a shared equity mortgage is, you’ll first need to understand the principle of…
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