Question
I understand first time buyer have to pay a bit less down-payment for purchasing a house.
With this understanding my question is ..will Husband and Wife gets this benefit if ONE of them is first time buyer and they are buying the house jointly.
Thanks in advance
Quote:
Originally posted by abcs80
Question
I understand first time buyer have to pay a bit less down-payment for purchasing a house.
With this understanding my question is ..will Husband and Wife gets this benefit if ONE of them is first time buyer and they are buying the house jointly.
Thanks in advance
Now there is no difference in a first time home buyer or a repeat home buyer.
Any one who qualifies based on income and credit can buy a principal home without any down payment and gets the best mortgage rates available.
Any questions, you can pm me.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Quote:
Originally posted by abcs80
Question
I understand first time buyer have to pay a bit less down-payment for purchasing a house.
With this understanding my question is ..will Husband and Wife gets this benefit if ONE of them is first time buyer and they are buying the house jointly.
Thanks in advance
Sometimes when the person is first time buyer there are some benefits in terms of downpayments/deposit payments. It is more common in new Condo developments or new freehold housing projects. I know Tridel uses this system for some of their new buildings.
In terms of buying a used home, their are no benefits really unless you are going to be taking advantage of the RRSP First time home buyer program.
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Vimal Patel, Realtor
Homelife Royalcorp Real Estate Inc., Brokerage
Cell: 416-887-3745
Office: 905-856-6611
Fax: 905-856-6232
vimal.patel@gmail.com
http://www.vimalpatel.ca" rel="nofollow">LINK
Location: carl sagan's universe
Posted on: 29-01-07 08:35:45
To go a bit further, On Approved Credit (the famous OAC you see advertised all over), you can even be approved upto 107% value of the home, i.e you can get a mortgage for the full value of the home plus get cash back to furnish your place. Neat, eh?
Certain companies also give upto 129% of the home value, usually meant for business, investment.
Interactive Information session on Home Buying
Here is the link:
http://www.canadiandesi.com/read.php?TID=16321
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
