Toronto mortgage company Mortgage Direct2u
Canada Ontario mortgage company
Canada mortgage application

100% Financing

100% Home Financing

Why Rent – When you can OWN?

You have excellent credit and a stable source of income yet have not accumulated the required down payment – MortgageDirect2u has the perfect mortgage solution for you!

Purchases Only:

  • Owner occupied (max 2 units)
  • Single family detached and semi-detached
  • Single family townhouses and row houses (freehold)
  • Duplexes
  • Registered condominium unit including: high-rise, townhouses and stacked townhouses located in urban centers
  • Properties on well water and septic tanks will be considered provided this is normal for the area
  • Dwellings situated on acreage, appraisal report to include a maximum of 10 acres and no out buildings
  • All residential properties must be of reasonable size. Minimal for all condominiums 700 750 square footage (70m2) of living space
  • For properties with no basement, the minimum square footage is 1,000 Sq. Ft.

Ineligible Properties:

  • Co-op, Student & Rooming Housing
  • Bed & Breakfast
  • Historical designations
  • Commercial Properties
  • Commercial Mix
  • Raw, Leased Land
  • Seasonal non-year round access
  • Island Properties
  • Mobile Homes
  • Prior Grow-Ops, Meth Labs
  • Life Lease
  • Fractional Interests, Rental Pools
  • Hotel Condo
  • Non Conventional Construction

Mortgage Types:

  • 5 yr fixed rate closed
  • Standard Rate guarantee 90 days
    (new construction 120 days)
  • 120 Day Rate Guarantee is available with .25 bps increment.
100% Financing Available - The Perfect Mortgage Solution For You!


  • Insured mortgages up to 30 year amortization available*


  • Weekly, bi-weekly and monthly payments
  • Prepayment privilege: up to 20% of the original principal amount + up to 20% increase in payment annually


  • PURCHASES - 95% financing through Genworth, CMHC

This mortgage option is for homebuyers that have a minimum Beacon sore of 650 and an excellent credit history but have not yet saved the required down payment.  It will not be approved for prior bankrupts or heavily indebted with no assets and no evidence that they can save.  Non-residing co-borrowers must be an immediate family member and on Title.


  • Mortgages must be title insured
  • Cash Back must be used for down payment
  • Employment and income verification required
  • Business for Self 3yr avg. NOA (no stated income)
  • Property must be residential
  • All properties must have a minimum of 100 AMP service
  • Building must meet all applicable Fire Code Regulations
Loan-to-Value Standard PremiumSelf-Employed without 3rd Party Income Validation Standard PremiumSelf-Employed without 3rd Party Income Validation**
Standard Premium Self-Employed without 3rd Party Income Validation Standard Premium Self-Employed without 3rd Party Income Validation**
Up to and including 65% 0.50% 0.80% 0.50% 1.50%
Up to and including 75% 0.65% 1.00% 2.25% 2.60%
Up to and including 80% 1.00% 1.64% 2.75% 3.85%
Up to and including 85% 1.75% 2.90% 3.50% 5.50%
Up to and including 90% 2.00% 4.75% 4.25%* 7.00%*
Up to and including 95% 2.75% N/A 4.25%* *
90.01% to 95% —
Non-Traditional Down Payment***
2.90% N/A * N/A
Extended Amortization Surcharges
Add 0.20% for every 5 years of amortization beyond the 25 year mortgage amortization period.†

For portability and refinance, the premium is the lesser of Premium on Increase to Loan Amount or the Premium on Total Loan Amount.  In the case of portability, a premium credit may be available under certain conditions.

* Premiums shown with an “*” do not apply for refinance.  For portability the maximum LTV ratio is 90%, but CMHC may consider higher LTV ratios when the new ratio is equal to or less than the original LTV.  For portability, the premium is higher for non-traditional down payments on Increase to Loan Amount.

** For conversion from Self-Employed with traditional 3rd party income validation to Self Employed without traditional 3rd party income validation, the premium is the lesser of: a) the Premium on Total Loan Amount or; b) the outstanding balance multiplied by a 1.5% premium plus the Premium on Increase to Loan Amount.

*** Down Payment Requirements – Traditional sources of down payment include: Applicant’s savings, RRSP withdrawal, funds borrowed against proven assets, sweat equity (‹50% of min.required equity), land unencumbered, proceeds from sale of another property, non-repayable gift from immediate relative, equity grant (non-repayable grant from federal, provincial or municipal agency).  Non-traditional sources of down payment include: Any source that is arm’s length to and not tied to the purchase or sale of the property, such as borrowed funds, gifts, 100% sweat equity, lender cash back incentives.

† The amortization cannot exceed 30 years for mortgage loan-to-value ratios › 80%.

Premiums in Ontario and Quebec are subject to provincial sales tax.  The provincial sales tax cannot be added to the loan amount.

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