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First time home buyers

Canada MGC – Helping First Time Home Buyers

First time home buyers need to make a well informed decision. If you are planning to buy a new home, you must guard yourself against making the common mistakes that most first time home buyers do.

Canada MGC mortgage experts can guide you through the whole process step by step telling you what to expect and what not to expect in addition to how to go about the entire process of your mortgage. If you are looking for a reliable source for mortgage solutions, then you have come to the right place. We can offer a matchless guidance to you with the process in addition to best mortgage rates.

Hand-in-Hand : From Down Payment to Mortgage Insurance

Get all your down payment together and analyse how much you will need and how it can affect your mortgage. In addition, find out the advantages of pre-approval and become comfortable with the process. You need to certainly take the help of a mortgage specialist. We can give you a comprehensive guidance on your first mortgage. You need to first figure out how much you can afford towards the property. You should never leave any stone unturned.
If you have got a question at any stage, get it clarified from our reliable professionals. One of the advantages of working with the help of a mortgage specialist is that he or she will be able to offer you a professional and highly knowledgeable advice and can clarify all your doubts. We stay with our customer from beginning till the end to guide them with the entire job of buying a new home.

Pre-Approval Delays – Not with Us

One good thing about getting pre-approved is that you will know exactly how much we can lend you towards buying your first home. You must ensure that you choose the right area, the right house and get the right price. When you go shopping for your home, you list out your priorities and requirements:

  • number of bed rooms
  • yard size
  • architecture
  • number of bathrooms
  • the layout

However, you should also be willing to compromise wherever necessary. Once you identify the house you want to buy, then finalise your mortgage details with us and your lawyer. Before you get your keys, you need to finalise the closing costs, insurances, property assessments and fees.

First-time Home Buyer’s Tax Credit

While buying a new home as a first time home buyer, there is good news for you. You can take advantage of the first-time home buyer’s tax credit. There are a few requirements you need to satisfy for becoming eligible for this scheme. You should be within Canada and might buy an existing or new home. The property can be a:

  • Single home
  • Semi
  • Townhouse
  • Mobile home
  • Condo
  • Apartment

You must be willing to occupy the property within one year of purchase. The home must be registered in your name or your spouse’s name. You should not have owned a home during the past four years. You must be able to submit the documents regarding the purchase of your home. Once you meet the above said criteria, you are eligible to receive a rebate of $750. You can claim this credit within one year of purchasing your home.

As a first time home buyer, you can get the most reliable services and the best mortgage rates while buying a new home. Call us at 1-866-963-CMGC (2642) for affordable solutions from mortgage experts.