For the First Time Home Buyer

Congratulations on the decision to be a first time home buyer. Buying a home is a significant and exciting time in your life and one that needn’t be stressful, worrisome or unattainable. Dale and CaroleAnn Bryant are here to help.

We understand completely what needs to be done when obtaining your first home mortgage and we understand how important this first step is for you. We strive to ensure that everything is taken care of, entirely, and is done so in a professional and timely fashion.

Dale and CaroleAnn of The Mortgage Wellness Group believe in keeping first time home buyers apprised of all real estate and mortgage essentials - because an educated home buyer is a successful home owner:

• How large of a mortgage loan you can afford
• Financing and pre-approval
• Finding the right home
• Choosing the right mortgage
• Down payment assistance
• Finding the right people to work with
• Safeguarding your assets

The amount of work involved is momentous, but it should also be attainable, realistic and manageable. This is where Dale and CaroleAnn can make a difference. We take the time to answer all your questions, explain the process in its entirety and when you are ready – we will find a mortgage to make your first home a reality.

Discover for yourself why Dale and CaroleAnn Bryant are your trusted source for the first time home buyer.

Buying a home is often the single largest purchase that one can make. To help young families and others looking to buy a home for the first time the following programs and tax credits are available:

Government Mortgage Programs

Home Buyers' Plan Withdrawal Limit

To provide first time home buyers with additional access to their RRSP savings to purchase or build a home, the Home Buyers' Plan (HBP) increases the withdrawal limit to $25,000 from $20,000.

First Time Home Buyer Tax Credit

The HBTC will assist first time home buyers with the costs associated with the purchase of a home, such as legal fees, disbursements and land transfer taxes, which are a particular burden for first time home buyers, who must also save for a down payment. A 15-per-cent credit will be applied to a $5,000 amount, and will provide up to $750 in tax relief to reduce the costs associated with first home purchases completed after January 27, 2009.

Land Transfer Tax Refunds

First time home buyers may be eligible for a refund of all or part of the tax payable up to a maximum of $2000. Refunds may be claimed at time of registration or claimed directly from the Ministry of Revenue. Applications for a refund must be made within 18 months after the date of the transfer. For more information visit http://www.rev.gov.on.ca/en/refund/newhome/

Lender Mortgage Programs

5% Lender Cash Back

If you qualify for this program the lender will provide the funds that can be used for the 5% down payment. Interest rates are higher for this program and if you discharge your mortgage before the end of your term, you will be required to pay back a pro-rated portion of the cash back.

2% – 5% Lender Cash Back

If you qualify for this program the money is advanced to your lawyer at the time of closing and may be used for new home furnishings, appliances, or whatever you wish. Interest rates are higher for this program and if you discharge your mortgage before the end of your term, you will be required to pay back a pro-rated portion of the cash back.