A couple of months ago I had a meeting with a young couple looking for advice regarding purchasing their first home. When we first connected for their free mortgage analysis, they thought that it could be a couple of years before they were able to save enough down payment to buy that first home.

What they didn’t know was that the federal government's Home Buyers Plan (to help first time buyers with their purchase) allows them to each withdraw up to $25,000 from their RSP's to use as a down payment, tax free! They also didn't know that they could accept a gift from family members to help get them started. The third big eye opener for them was that they could borrow their down payment from any financial institution using CMHC's Flex-Down program with no fee or additional charges. And lastly their fourth option was to take advantage of the provincially regulated 5% cash-back program (essentially a no-down-payment mortgage) which allows people with good credit to buy a home without a down payment, at a slightly elevated interest rate for the first 5 year term. 

I pre-qualified them within 15 minutes! 45 days later they had found their perfect starter home and moved in!

If you are a first time buyer and think that home ownership is out of reach ... I can let you know the reality of your situation in less than 15 minutes. For a no-cost, no-obligation consultation, call me now to get started at 519-690-1457.

Bookmark and Share