A first-time home buyer hasn’t owned a home in the past 5 years, for them buying a residential property in Canada comes with some incentives.

• Can withdraw up to $25,000 per person from their RRSP’s accounts towards their down payment

• Can get a first time home buyer tax credit (from revenue Canada, see video below) of up to 750.00 in the year you purchase your home to offset the closing costs.

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We offer the following mortgage loans services to first-time home-buyer:

In a high ratio mortgage, the down payment is less than 20% of the value of the property

• Zero down payment mortgage
• Cash back mortgage
• 5% or more for down payment
• New to Canada Mortgage

Conventional mortgage is when the down payment is at least 20% of the value of the property

• Family plan mortgage

In any case is important to maintain a good credit rating

Watch the “First time home buyer tax credit” video.

 

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Home buying step-by-step

• Is Homeownership Right for You?
• Are You Financially Ready?
• Which Home is Right for You?
• The Buying Process
• Now That You’re a Homeowner

 

Call or text 416-262-7139