Under the Trillium mortgage model, eligible buyers can make a down payment as low as five per cent. The Trillium paymentfree mortgage typically covers 25 per cent of the value, while a conventional first mortgage covers the rest. Buyers need a first mortgage approval from a bank, credit union or mortgage broker. A shared-equity Trillium mortgage helps buyers with down payments, reduces leverage, and reduces carrying costs. Mortgage-holders can save several hundreds of dollars monthly in housing costs while building equity. According to Joe, this sharedequity approach “provides a path to homeownership to lower-income families who would otherwise have been priced out of the market.” THE CONSTRUCTION SOURCE CANADA
RkJQdWJsaXNoZXIy OTYzNTg=