Developer buy-downs the next big mortgage trend?

You’ve heard of brokers buying down rate but how about developers? One is offering a promotion that will allow clients to pay as little as $1 per day to live in its upcoming condo development.

WestStone Group — in partnership with Platinum Project Marketing —  is currently offering a special promotion for the first 200 buyers of its Evolve development in Surrey, B.C. and certain condos can be had for as little as $365 for the first year. The offer is open to all qualifying mortgage holders, regardless of which lender their mortgage is with.

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