Shared Equity Mortgage

The Federal Government incentive is designed to help those qualifying first time home buyers to reduce their monthly mortgage carrying costs without adding to their financial payments.

Shared Equity Mortgage image as page imageThe “Shared Equity Mortgage” is home buying incentive available from September 2, 2019, for home purchases with a closing date not earlier than November 2, 2019.

This limited funding available “Shared Equity Mortgage” is a not bearing interest loan however repayable after 25 years or at the time of selling at “Fair market value”

Are you a qualifying first time home buyer?
Are you interested in taking advantage of the “Shared Equity Mortgage”?

The “Shared Equity Mortgage” is available to Canadian citizens, permanent residents, non-permanent residents with a Canadian work permit.

Total borrowing is limited to 4 times the qualifying income which cannot be greater than 120,000.

The “Shared Equity Mortgage” is applicable to new construction homes for which a 10% of the home value may be approved as an incentive, it is also applicable to resale homes for which a 5% of the home value may be approved and is also available for new and resale mobile/manufactured homes for which a 5% of the home value may be approved.

Are you or someone you know interested?

You need to start your pre-qualification process by completing the form below, then submit your option to the poll at the bottom:

 

[caldera_form id=”CF5d0e408e16442″]