Definition: The mortgage 0 down Canada refers to a type of mortgage that requires no down payment or deposit from the borrower. This means that the borrower does not need to put any money in order to secure the loan. Instead, the lender agrees to provide the borrower with a portion of the loan amount without requiring the borrower to make any deposits. The mortgage 0 down Canada is commonly used for individuals who want to borrow money but do not have enough money saved up or are unable to pay back the loan due to financial reasons such as a divorce or unemployment. The lender will typically require the borrower to provide documentation that they meet certain income requirements, which may include having worked at least 20 years and having a steady income source. Mortgage 0 down Canada is often used in situations where the borrower is able to secure the loan with their own savings, as well as in situations where the lender has not been able to secure the loan due to unforeseen financial circumstances.
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