Mortgages for First Time Home Buyers

Start Your New Life In Your New Home

Looking for your first home?

Thinking about buying your first property?

Tired of passing your hard-earned money for rent over to your landlord? Maybe you've built up some savings and have a downpayment for your own property. No matter what your situation is, I help simplify the buying process and worry about all the financing details so you can get down to finding the right property for you and you're family. I'm here to help you get the best rate and mortgage terms around
Give us a call today.

Make sure you get pre-approved first and lock in your rate!

Each mortgage application is different and we will help you figure out the numbers so you can stay focused on shopping for properties within your approved price range. You and your real estate agent will know exactly how much you can comfortably afford along with the assurance of a locked-in rate - all at no cost to you

The Canadian government offers a wide arrange of incentives for first time home buyers that can help you purchase your new home. For residents living in Ontario, there’s a first time home buyer tax credit and rebate also RRSP home buyers plan, Land Transfer Tax Rebate, GST/HST New Housing Rebate and the first time home buyer incentive program. All of these programs are essential for you to use when buying your first home. New Life will make sure that we inform you and educate you on all of these programs that are offered.



First Time Home Buyer's Tax Credit


The first time home buyers tax credit is one of the great rebates at the end of the year that you can claim after you buy your first home. The rebate is for $750 for all first time home buyers and must be claimed within a year of your home purchased. The rebate was introduced by the Canadian Federal government in 2009. This rebate helps recover some of the costs of buying your first homes such as legal fees and home inspections. To claim your $750 you must include it with your personal tax return underline 369. If you have any questions about the first time home buyer’s tax credit feel free to reach out to Dallas Martin at 519-495-7250.



First Time Home Buyer's Land Transfer Tax Rebate


For first time home buyers in Ontario, you can get a land transfer tax rebate of up to $4,000. Ontario land transfer tax rebate will cover the full tax of a home purchase of up to $368,333. For houses that cost more, you will need to pay the remaining balance of the land transfer tax. If you live in Toronto the land transfer tax rebate will go to $4,475. Your real estate lawyer will go over your land transfer tax rebate at signing.
 



RRSP Home Buyer's Plan


First time home buyers are able to withdraw from your RRSP to help pay for your down payment on a new home. The government allows you to take out $35,000 from your RRSP TAX-FREE! You will have to make repayments back into your RRSP. Payment must start after two years of your purchase and you have 15 years to make all of your payments. You can put it back in as quickly as you want but it must be paid back in 15 years.



GST/HST New Housing Rebate


This with help first time home buyer’s who paid GST and HST by renovating an existing home, buying a new home or rebuilding one due to lost to fire. The home must be owner-occupied for you to qualify for this rebate. This will help you get a portion of your taxes that you have put into the home back into your wallet.




Our mortgage services include: FIRST TIME HOME BUYERS | REFINANCE FOR DEBT CONSOLIDATION | SELF EMPLOYED MORTGAGES | BAD CREDIT MORTGAGES | MORTGAGE REFINANCE FOR HOME RENOVATIONS & INVESTMENTS | INVESTMENT PROPERTY MORTGAGE | COMMERCIAL MORTGAGES| VACATION & SECOND HOME MORTGAGES | New To Canada



Contact Dallas Martin, Best Mortgage Agent in London Ontario providing the best Mortgage Products for First Time Home Buyers across, St Thomas, Strathroy, Grand Bend, Kitchener, Woodstock, Guelph, Windsor, Sarnia, Hamilton and Toronto & Surrounding areas.


 

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