As you have likely seen, the BC government’s new Home Partnership program, which provides first time homebuyers with interest-free loans of up to $37,500 on their first home purchase, was open for applications this week.
However, did you know that this isn’t the only program available to help first time buyers get into BC’s real estate market? In addition to the new Home Partnership program, there are several initiatives and programs in place, both federally and provincially, to support homebuyers.
For example, first time home buyers may be eligible for the First-Time Home Buyers’ (FTHB) Tax Credit from the Government of Canada. There are also tax credits and exemptions in place depending on the applicant and/or the home they are purchasing, such as brand new homes.
Each program has its own unique set of qualifications and stipulations that make it difficult for the average homebuyer to understand. It can be especially tricky to navigate the world of mortgage lending programs if your application isn’t straight forward or conventional.
As a mortgage broker, it’s my job to not only be knowledgeable of all these programs, but to make sure that you can take full advantage of all the programs you are entitled to – even those you didn’t know existed! I work with over 230 lenders, so I know how to get you the best mortgage for your situation.
Whether you’re a first-time buyer or a seasoned homeowner looking to buy a rental property, I am here to help you! Best of all, my services are 100% free! Call or email me today!