Award winning customer service to each and every single client!
You’re finally ready to buy your first home! Applying for a mortgage is the key step of the process. While this is supposed to be an exciting time, recent changes in Canadian lending regulations and interest rate increases have made it a bit challenging for would-be homeowners.
The good news is if you take the right steps and get your financial affairs in order as early as possible, your first-time home buyer mortgage application process can go much more smoothly.
If you are a first-time homeowner in 2022, you should know that several federal government incentives are available to make things easier for you and help you take the big step.
Here is a quick overview:
In Ontario, for example, first-time home buyers purchasing a home with a price of $368,000 or less get the full rebate which essentially means they won’t have to pay any land transfer tax. If the purchase price is higher, they can receive a maximum refund of $4,000.
Meanwhile, first-time buyers in Toronto can receive the full rebate if their purchase price is less than $400,000. They also get a municipal land transfer tax rebate of up to $4,475.
However, homeowners must repay the amount within 15 years.
With these programs and our help, you can save several thousand dollars and also avoid the stress that is part of the process.
If you haven’t already, it’s time you take advantage of these amazing opportunities!
Buying a home for the first time is both a nervous and exciting process. It means you have already achieved some stability in your life and are ready to make an investment. At Turkin Mortgage, we want this time in your life to be as stress-free as possible. We want you to enjoy your first home and not worry about the loan or possible debts.
There are many different processes involved when purchasing a home, and it is important to have an expert by your side to guide you through them. We will explain every detail and answer every question, so you are prepared and confident about making decisions that are right for you.
...pick the one thats right for you.
starting from
6.45%Term | Rate |
---|---|
HELOC | 6.45% (Prime rate) |
Lender | Rate | Term |
---|---|---|
Lendwise |
4.19% | 5 year |
First National Financial |
4.44% | 4 year |
RMG Mortgages |
4.44% | 3 year |
Street Capital Bank |
5.34% | 2 year |
TD Bank |
4.84% | 1 year |
Term | Rate |
---|---|
5 year variable | 5.3% (Prime - 1.15%) |
3 year variable | 5.6% (Prime - 0.85%) |
Term | Rate |
---|---|
Line of Credit | Starting at 7.2% |
Equity Loans | Starting at 6.5% |
Private Mortgages | Starting at 5.99% |
We understand that purchasing a home is an exciting, life-altering decision, and this excitement can sometimes cloud our judgment. Since housing is becoming more costly, it is wise to plan ahead so you can live in the home of your dreams without regret.
Here are 5 key ways to see if you can pay for your dream home:
If you’ve managed to pass each key step, congratulations are in order!
Now, you can begin the actual process of home ownership. A qualified mortgage broker can guide you on these next steps, be it refinancing or applying for a new mortgage.
Working with brokers will help you navigate the world of home financing smoothly and without stress. Best of all, as professionals, brokers recognize that every borrower has different financial circumstances and needs, so they’re well-versed in helping prospective buyers determine a budget that works for them.
…by providing award winning customer service to each and every single client.
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