Fi­nanc­ing

Calgary Herald New Condos - - New Condos -

From RBC Royal Bank Canada at www.rbc.com:

There are three main fi­nanc­ing al­ter­na­tives for pur­chas­ing a va­ca­tion home:

A con­ven­tional mort­gage al­lows you to fi­nance up to 75 per cent of the pur­chase price of the home, thus re­quir­ing a down pay­ment of at least 25 per cent.

An in­sured mort­gage makes it pos­si­ble to fi­nance up to 95 per cent of the value of a sec­ond home. If you hap­pen to al­ready own a cot­tage that has no debt on it, then you can also re­fi­nance

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