Buying your first home can be pretty overwhelming.
It’s also probably the most expensive product you’ll ever buy!
But in order to get into your first home, you need a mortgage.
Are you a first-time home buyer?
Welcome. You’ve come to the right place.
First-Time Home Buyer
Prior to looking for a home, it is important that you are familiar with the home buying process and everything in-between. The first question every Realtor is going to ask you is “do you have mortgage pre-approval?” This is probably one of the first things you need to consider having because it’s important you understand how much you can afford before you start the overbidding process which is taking the Toronto real estate market by storm. Don’t get caught in a loop where affordability becomes a question.
Understanding how much home you can afford and learn more about all of the financial costs associated with owning property in Canada would definitely make this step easier to prepare yourself beforehand and instill confidence in your purchase decision.
Benefits For First-Time Buyers
Our team at Million Mortgages offers the best mortgages in Toronto. On top of the best rates, we want to show you some of the tax credits and rebates that are available to first-time buyers.
FIRST-TIME HOME BUYERS TAX CREDIT
If eligible, you can claim up to $5,000 on your taxes.
FIRST-TIME HOME BUYERS PLAN
Do you have money saved in your RRSP? Then, the First-Time Home Buyers Plan will benefit you!! Withdraw up to $25,000 from your RRSP to purchase your first home. Use it as a deposit or a down payment.
LAND TRANSFER TAX REBATE
As a first-time homebuyer, you can receive up to a $4,000 land transfer tax rebate.
HST NEW HOUSING REBATE
In Ontario, you may be eligible for a new housing rebate and get a portion or all of your HST back from your purchase.
Here with you, every step of the way.