First time home buyer

First Tima Home BuyerA 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.

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

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

In any case is important to maintain a good credit rating

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


Home buying step-by-step

  • CMHC Homebuying Step by StepIs Homeownership Right for You?
  • Are You Financially Ready?
  • Which Home is Right for You?
  • The Buying Process
  • Now That You’re a Homeowner


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