Easy Financing Promotion

Announcing Easy Access to In-House Financing & Rental Conversion Program

Cove Communities - Canada is now offering easy access to In-House Financing and we have introduced a new Rental Conversion Program for all of our Canadian communities.

Here's how it works:

1. In-house financing available for the purchase of any Cove Pre-owned home
2. Low down payment equalling 10% of purchase price or no less than $1,000
3. 10 and 15 year terms
4. Favorable approach to credit score requirements*

For more information contact us at info@CoveCommunities.com

* Details concerning qualification requirements are available from community sales managers.

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Rental Conversion Program

Cove Homes - Canada has introduced a new Down Payment Savings Program
How it works.

Starting February 14, 2019, buyers interested in purchasing a home at any of our Villages, who do not currently have enough funds for the down payment, can participate in Cove's down payment savings program.*

Key points:
Resident will enter into a rental home LEASE agreement whereby they agree to pay an additional deposit amount each month for 12 months, totaling $1,000 by end of month 12.*

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If Resident complies with the additional deposit requirement and has 12 months of consecutive on-time payment history (both rent and additional deposit), they will qualify for the rental conversion program.

Once the $1,000 is accumulated and if the borrower satisfies the Rental Conversion Program requirements*, then the Home Sale Purchase and Loan Agreement can be completed.

Purchase Price based on price at time of initial lease agreement.

* For all details and to find out if you qualify, contact us at info@CoveCommunities.com

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Bank Financing in Canada

You can find out if you qualify for financing without impacting your credit score! Just give any of our community managers in Alberta or Saskatchewan a call and we'll tell you how.

The bank requirements are below.

  • Little as a 10% down payment
  • 3.44% starting rate over 25 years
  • 42% Debt to Income Ratio
  • 600 or higher credit score
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Home Financing Examples:

  • Starting at $100,000*
  • Down payment: $5,000*
  • Mortgage + site rent: $1,281.28 a month

Home Financing Examples: Pre-Owned Home

  • Starting at $25,000*
  • Down payment: $1,325*
  • Mortgage + site rent: $957.28 a month

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Today's homebuyers in the U.S. have a number of traditional financing opportunities.

Conventional Financing for New Manufactured Homes

In the U.S. Freddie Mac is working to help educate potential homebuyers about the realities of today’s manufactured homes. Though some borrowers may have dismissed them in the past, many are finding that second look worthwhile. That’s because there’s a new generation of manufactured housing that might just be the best option for first-time homebuyers, millennials, and empty-nesters looking to downsize. Freddie Mac is a strong supporter of manufactured home financing; it's an important part of their mission to increase access to mortgage credit across the country for more affordable housing.

Cove Communities home sales experts are here to work with home buyers to find financing options that fit their needs.