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Purchasing property with only a small down payment

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If you are purchasing on your own and are finding it difficult to save enough money for a down payment, you might want to explore other alternatives, such as co-ownership — having more than one person on title. For example, you might purchase a home with a partner, spouse, or family member. If you choose to purchase in this way, you must seek the advice of a lawyer, who will be able to advise you about the advantages and disadvantages of the various types of co-ownership. As mentioned earlier, you may be able to assume a mortgage or VTB mortgage when purchasing.

Complete Home Buyer's Guide For Canada

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