fIRST-TIME HOME BUYERS
sO mANY qUESTIONS!
Let's Make the Real Estate Plunge!
Ready to make the biggest investment of your life so far? Todd is ready to do it in lock step with you. Buying your first home can be stressful and and intimidating, with so much paperwork, banks, lawyers and agents all trying to advise you. So finding someone you can trust to get you the right information, in a timely manner in so important.
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Here are a few FAQs to get you on the right path:
What are some of the First-Time Home Buyer Benefits available to me?
The Home Buyers Plan, allowing you to access up to $35,000/person or $70,000/couple in tax free RRSPs and allowing you 15 years to repay it .
The First Home Savings Account. A Tax Free Savings Account designed for first time home buyers. You can but up to $8,000/year away and $40,000 total that can be removed tax free for a home purchase. This does not need to be repaid.
Income Tax Credit. Your first year after purchasing your first home, you are eligible for a credit on your income taxes for up to $1,500.
Land Transfer Tax Rebate. As a first time home buyer you could be qualified for up to a $4,000 rebate on the Land Transfer Tax
When should I contact a Mortgage Agent?
As soon as you consider purchasing a home. In fact, you should contact a mortgage broker before you start your home search because we can tell you how much you can afford and get you pre-qualified. Most realtors will tell you this is a first step. Don't fret if you have already started looking! It's never to late. Let's get you started before you put that first offer in so you know where you stand.
What can an Mortgage Agent offer that's different than the banks?
Mortgage agents have access to multiple lenders including many of the big banks. This often comes with rates lower than if you just walk into the bank looking for a mortgage. We also offer a vast variety of lenders including monoline lenders, alternative lenders and private lenders. Meaning we can find the mortgage that is right for you.