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Purchase home even if you don't have a down payment saved

Are you wanting to purchase a home but are having a hard time saving the down payment? If you have room in your ratios (income vs. debts) you may be able to borrow all or part of the minimum 5% down payment from a credit card, personal line of credit or a personal loan. This is called a Flex Down Mortgage. One thing to keep in mind with this option is that, along with your new mortgage payment, you'll also have another additional monthly payment to pay off the total borrowed funds.

When starting the process of buying a new home, there are several important things to be aware of.