Home Index Mortgage


FOR BUYERS WITH 10% DOWN

How it works

1. HomeIndex Mortgage is a low-interest, interest-only, five-year loan. Combined with your 10% down payment, it makes you eligible for a traditional low-ratio bank mortgage.

2. Your monthly payments include the bank mortgage and an interest only HomeIndex Mortgage payment.

3. When you refinance or sell the home, you repay the HomeIndex Mortgage, as well as 10% of the home’s appreciation during that time.

4. Through HomeIndex Mortgage your mortgage is insured at a significantly lower rate than CMHC’s.

Easier Payments

Monthly payments are reduced by 20%

HomeIndex Mortgage

  • You pay only the interest on your HomeIndex Mortgage
  • Interest on your HomeIndex Mortgage is lower than a bank mortgage
  • Your bank mortgage is smaller, so the payments are lower
  • Your mortgage insurance is significantly lower than CMHC insurance

Versus high-ratio bank mortgage

  • Your bank mortgage is larger – 90% of your home’s value - so the payments are significantly higher
  • Your mortgage requires CMHC Insurance

Get moving today!

NO CMHC INSURANCE REQUIRED

With a HomeIndex Mortgage plus your 10% down you are more likely to qualify for an 80% traditional low-ratio bank mortgage that doesn’t require CMHC Insureance.

INTEREST-ONLY PAYMENTS

A HomeIndex Mortgage is an interest-only loan. That means that during the loan period, you pay only the interest, not the principal.

LOW INTEREST RATE

HomeIndex Mortgage rates are lower than bank rates.