Exciting News For First Time Buyers!
New Government Program offering Qualified Buyers up to $48,000 interest-free down payment incentives with no monthly payments! Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadian first time home buyers, on a First Come First Service Basis.
Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P. Just keep in mind this is a C.M.H.C. insured mortgage program. The total down payment is to be “less” than 20% down.
You can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction. Simplified, this is a shared equity mortgage program with the Government of Canada.
Again is all Interest-Free and includes No Monthly Payments.
You can repay the Incentive at any time without a prepayment penalty. However, the repayment is based on the property’s fair market value.
How the First Time Home Buyers Program Works
The new program scheduled for September 2nd, So call today about this and “other” Government Incentives to ensure you have a well-planned home purchase.
Visit us online at www.SuttonRealty.com for more information.
Call Our Office Today and Speak to a Representative anytime 905-896-3333 or 416-896-3333.
You can even register for one of our upcoming Home Buying Seminars!