First Time Home Buyers.

First Time Home Buyers

If you are finally read to turn your home ownership dreams into reality, you are considered a first time home buyer!  While this is an incredibly exciting time for you, it’s best to partner with your trusted mortgage professional.  As a licensed Mortgage Brokerage we are most capable of analyzing and helping you to determine your preferred mortgage solution.

 Working With a Mortgage Broker

• You’ll receive a personalized income and credit assessment  
• You’ll receive a pre-positioning workout plan if purchasing immediately isn’t the best option 
• You’ll receive an indication of the down payment amount you’ll be required to provide
• You’ll receive an indication of related closing and transaction costs to ensure you’re within budget
• You’ll receive unbiased guidance as opposed to working directly with a bank and their one item menu

Suggestions from a Mortgage Broker

• Take your time and understand from a high-level the mortgage process
• Understand the difference between a pre-approval and a formal approval
• Understand related closing and transaction costs from the onset to avoid surprises
• Resist the temptation to submit an offer-to-purchase without protecting yourself with a financing waiver
• Hard now, easy later – there are no shortcuts
• Work with a good realtor – we can steer you in the right direction
• Have fun and don’t sweat the small stuff 

Land Transfer Tax Rebate

• First time home buyers in Ontario can qualify for a rebate on land transfer tax up to $4,000
• First time home buyers in Toronto can also qualify for a rebate on land transfer tax up to $4,475
• First time home buyers in British Columbia can qualify for a rebate on land transfer tax up to $8,000

Ontario Land Transfer Fax Rebate Qualifications 

• You must be a Canadian citizen or a permanent resident
• You must be 18 years or older
• You must occupy the home for 9 months from the closing date
• You cannot have owned a home before
• Your spouse cannot have owned a home during the time they’ve been your spouse
• Click here for more information