FIRST TIME HOME BUYERS PROGRAM
As a first-time buyer, you may be eligible for down payment assistance and other federal homebuyer benefits. Some of these include:
First-Time Home Buyer Incentive – Eligible first-time buyers (with the minimum down payment) may be able to finance part of their home’s purchase through a shared equity mortgage with the Canada Mortgage and Housing Corporation (CMHC).
Home Buyer’s Plan – Qualifying first-time homebuyers may borrow up to $35,000 from their RRSPs (tax-free) to put towards their down payment.
GST/HST New Housing Rebate – All qualifying buyers may be eligible for a rebate on the GST/HST paid for a new construction home, substantial renovations or significant additions to a current property or for converting a non-residential property into a liveable residence.
For more information on which first-time buyer program may be right for you, see the Government of Canada Programs to Support Homebuyers or get in touch with us.
Every Home Buyer is Different
Whether you’re a first-time home buyer or an experienced buyer, contact us to get a fast pre-approval, lock in at a low rate, and feel confident knowing we will walk you through all the steps involved with the approval process. With our 10 + years of knowledge, we have done this a time or two. Our process is simplified, true and tested so you can feel calm knowing you are in good hands.
As everyone’s purchasing scenario is different, we’ll help you zero-in on the best product for your unique situation. One shoe does not fit all when it comes to mortgages these days, so reach out to us today to discuss your needs first! Things to keep in mind:
5% down payment is the minimum when purchasing a property you’re going to live in.
Your credit is extremely important, and we will talk about your history and current status.
Income must be verifiable (where you are employed via an employer or, if self-employed, we will explain what is needed to get you approved).
Your first step in obtaining a pre-approval is completing a mortgage application. Our application takes only 5-10 minutes to complete and will be sent directly to us for review. We will then go over your application with you and gather any additional information we may need to ensure the process goes as smoothly as possible. Once completed, we will explain the next steps involved and send you a list of documents needed for the approval (making sure you’re well prepared in advance).