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Mark, No, I would normally not recommend that product - but then again they call me conservative. When we wanted to purchase our first home we had to save for quite a few years (but that was back in the bad old days); so maybe I just a bit old fashioned. :):):)

Gross, the niche is for people who can't or will not save enough money for deposits but want to own a property immediately.

Well said Bantam Roosta. This is a very specific niche product which has its place in the current lending climate; however; IMHO it is a typical product for todays society (can't wait, must have it all now). I am sure that it will not have many followers, just like 95% LowDoc loans. Just my 2...