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First Time Home Buyers Land Transfer Tax Rebate up to $2000 for First Time Buyers in Ontario Home Buying Plan Withdraw up to $20,000 from your (RRSPs) for a down payment New Housing GST Rebate New housing rebate for part of the GST/HST you pay on the purchase price or cost of building your house... Home Buyer Warranty Protection for Ontario's New Home Buyer Title Insurance Home Owners - Don't Become a Victim of Real Estate Fraud Home Inspections Since buying a home is such a big investment, you should get a home inspection done.

______________________________________________________________ Purchasing Your First Home is a very important decision and your home mortgage is the single most important financial decision that you will ever make. Download our Home Buying Guide Simplifying the process is what we do best. We will explain your options and recommend financing solutions to get your first home mortgage approved at the lowest rate and terms for you. ______________________________________________________________ The Process... 1. Get Pre-Approved for a Mortgage 2. Find a Real Estate Agent 3. Make an offer on a house 4. Once your offer is accepted, send your Agent: - Agreement of Purchase and Sale - MLS Listing - Employment Letters - Current Pay Stubs - Last two years tax assessments *Other documents that may be required as requested. Please send documents by email or fax Email Fax:1.866.407.5702 5. Application sent to a lender for approval 6. Approval is obtained *Generally within 24-48 Hours 7.Sign your Mortgage Contract 8.Transaction is complete (closing) 9.You Just Purchased A HOME!!

Qualifying for a mortgage, what lenders look at - The 5 C's 1. Character - Employment reliability and overall risk 2. Capital - Available financial resources; assets and liabilities 3. Capacity - Ability to pay (GDS and TDS calculations) 4. Collateral - Condition of Property to be mortgaged 5. Credit - Credit score and payment history (Understanding Credit) Credit Concerns Bad Credit? This will mean higher lender fees and mortgage rates. Your credit score is an important indicator of your creditworthiness. The higher your score the better chance you have at getting credit extended you. While many lenders use bureau scores to help them make lending decisions, they also take other aspects into consideration. Lenders will use your credit score to determine if you are likely to pay your bills and also help them place you with the appropriate repayment plan. For example if you have claimed bankruptcy in the past they might place you at a significantly higher interest rate.  Visit our Credit Repair Centre for help on repairing or re-establishing your credit.   Types of Mortgages Down Payment of 20% or more Conventional Mortgage Down Payment of  less than 20% High Ratio Mortgage Is a mortgage for less than 80% LTV (Loan to Value. These mortgages don't generally need to be insured, although some lenders provide their own insurance and require you to pay an insurance premium  on top of the mortgage amount, in order to protect themselves. A conventional mortgage can be used for those that have 20% or more as a down payment. Is a mortgage that is for more than 80% LTV (Loan to Value) Mortgages for 75% and more are required to have mortgage insurance on the loan. The majority of the time the insurance is provided by CMHC (Canada Mortgage and Housing Corporation or GE (GE Mortgage Insurance Canada, now Genworth). You pay an insurance premium up to 7.3% on top of your mortgage amount and the bank or finance company has the assurance that if you default the mortgage will be covered by the insurance policy.