The following is an excerpt from the Canada Mortgage and Housing Corporation website under the topic of "Mortgage Loan Insurance":

Finding Down Payments Just Got a Lot Easier

OTTAWA, February 23, 2004 - Home buyers, will have greater choice in what they can use for a down payment, thanks to new options announced today by Canada Mortgage and Housing Corporation (CMHC).

Borrowers are normally required to have a minimum five per cent down payment from their own resources to purchase a home. However, CMHC has expanded eligible down payment sources to enable many Canadians to realize their home ownership dream sooner than what would otherwise be possible.

Under this new product, effective March 1, the down payment can come from any source such as, lender incentives and borrowed funds. However, borrowers will still have to prove their ability to meet their debt requirements in order to qualify for mortgage insurance.

Under the new product, lenders will be able to offer Canadians a variety of mortgage produc tofferings including mortgages with terms as low as six months and fixed, adjustable and capped interest rate loans.

CMHC, Canada s leading innovator inproviding housing finance solutions, continues to provide Canadians with greater access to affordable housing finance.

How to Buy A Home with Absolutely No Money Down

A new home ownership program allows qualified buyers to buy a home with absolutely no downpayment.

You may have owned a home before and are presently renting or maybe you are a first time homebuyer and need a way to break into the housing market but held back because you thought you required a $10,000, $20,000 or even more for a downpayment. Well regardless of your present situation, if you want to get into, or re-enter the housing market without having to make a cash downpayment, then this new program may be just what you're looking for.

Why pay your landlord's mortgage when you can be building your own equity.

Industry insiders have prepared a new special report entitled, "How to Buy a Home With Zero Down", and reveals how this new and innovative program can get you into the housing market immediately and with absolutely no downpayment. Order this report NOW and you can get into the housing market NOW and with ABSOLUTELY NO DOWNPAYMENT.