HOW WE CAN HELP YOU
Understand the First-Time Home Buyer Incentive (FTHBI)
Determine whether or not you’re eligible to apply
YOUR BEST MORTGAGE
Let Mortgage Allies get you the best mortgage for you
Feel supported and “in the loop” throughout the process
WHAT IS THE FIRST-TIME HOME BUYER INCENTIVE (FTHBI)?
This incentive was set in motion on the 2nd of September 2019. It was created with the intention of making monthly mortgage costs for first-time home buyers, more manageable. By this, a qualifying individual will have the government buying equity in their home. This will allow Canadians to enjoy home ownership in a realistic and responsible way, with reduced mortgages and lower costs per month. Finally, an affordable option for a first-time home buyer.
MORE ABOUT THE FIRST-TIME HOME BUYER INCENTIVE (FTHBI)
There has been quite a bit of anticipation and excitement around the announcement of the FTHBI program. The federal budget only mentioned the start of this program in March, so it’s still early days for the mortgage community. This incentive officially launched on the 2nd of September this year. It’s an exciting time!
You’re probably wondering what exactly this FTHBI means, and whether or not it’s something that could benefit you, or someone you know who would love to own their first home. We’d like to begin by saying that there are always pros and cons. This program being no different, but it’s important to look on the bright side and to make the most of a new opportunity – especially if it can reduce you and your family’s financial burdens. This incentive will benefit many families across Canada, and we hope it will serve as a powerful aid to equip residents with the empowering ability to own their own home.
SEE IF YOU COULD BE ELIGIBLE FOR THE FTHBI PROGRAM HERE
ELIGIBLE? Let’s find out more!
Through this process, the government will get a share of any gains from the appreciation of the property, and with the same breath, will also share in losses should the value of the property go down. The government has put aside $1.25 billion over three years for this incentive.
Through the FTHBI, the Government of Canada will offer those eligible the following options:
5% or 10% can be paid towards a first-time buyer’s purchase of a new construction
5% can be paid towards a first-time buyer’s purchase of a re-sale home
SEE HOW THIS PROGRAM COULD HELP YOU
PROPERTY AND STATUS REQUIREMENTS
There are certain requirements when it comes to the kind of property that can be purchased. The property must be based in Canada and needs to be suitable and available to be occupied on a full-time basis throughout the year. It is important to note that this incentive only applies to Canadian citizens, permanent residents, and non-permanent residents who are legally authorized to work in Canada.
FIRST-TIME HOME BUYER INCENTIVE CALCULATOR (FTHBI)
Mortgage Allies has created a variety of tools that serve you. Our calculator, based on the First-Time Home Buyer Incentive (FTHBI) program, will help you get the information you need to make an informed mortgage decision.
To start, you need to make sure that you’re eligible for the program. We have a test that you can do to make sure you qualify. Add in the numbers, and let our FTHBI calculator give you the answers.
We love clients that are hungry for information because it leads to the right mortgage
UNDERSTAND THE PROCESS
MAKE THE RIGHT DECISION
GET THE BEST MORTGAGE
- C Lawrence
My wife and I have nothing but positive things to say about our experiences with Jacques and his team. From the moment we connected with them we have felt that our best interests were being taken care of. Every step of the way we have received multiple options and explanations for every decision we have had to make. We have recommended them to anyone and everyone and we look forward to using their expertise in the future as we navigate through the ever changing housing market. Thank you Jacques & team, we truly appreciate your services.
September 4, 2019Hartley Ruch
The Mortgage Allies team is an absolute pleasure to work with and is excellent at what they do. Jacques truly works in the best interest of every client. He takes the time to understand your individual needs and secure a mortgage that is the best overall fit for you. He has a deep understanding of mortgages and offers so much more value than any other brokerage or bank today. The process is clear and transparent from day one and you will learn a lot about mortgages along the way. I would highly recommend Mortgage Allies for your mortgage needs.
September 4, 2019
WITH YOU EVERY STEP
The FTHBI is a program for those who have not purchased a home before. This initiative makes purchasing a home for young Canadians, more realistic. We can take you through the steps that this mortgage process will entail.
WE DO THE CHECKS
As you read above, there are certain requirements to be eligible for the FTHBI. If you’re unsure about whether or not you qualify, let us help you determine your eligibility. Chat to us!
Once you’ve determined your eligibility for the FTHBI, we will help you get the relevant documents together. Here, we ensure that you have the correct information and forms filled in, and then we’ll help you apply. We make it our priority to keep the application process as easy and clear for you as possible.
SIMPLIFY THE PROCESS
Once we’ve got your application for the FTHBI in, you won’t be left to wonder. We’ll keep you updated throughout the process and will get back to you with the final outcome as soon as possible.
Jacques Du Preez
Principal Broker & Owner
Address: 1155 North Service Rd. W., Unit 11
Oakville, ON L6M 3E3