Mortgage Blog

Category: First Time Buyers (15 posts)

How Much Is The 1st Time Buyer Property Transfer Tax Rebate?

How Much Is The 1st Time Buyer Property Transfer Tax Rebate?

March 21, 2017 | Posted by: Laurie Anne Faulkner

First Time Buyer Property Tax Rebate Amounts Property Transfer Tax -You pay property transfer tax at the time you register a property at the land title office. The maximum rebate a qualified purch ...

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First Time Home Buyers Property Transfer Tax Program Feb 22, 2017

First Time Home Buyers Property Transfer Tax Program Feb 22, 2017

February 22, 2017 | Posted by: Laurie Anne Faulkner

The First Time Home Buyers’ Program is designed to help British Columbians purchase their first home. Under the program, eligible purchasers can claim an exemption from Property Transfer Tax if ...

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What are Closing Costs?

What are Closing Costs?

March 3, 2016 | Posted by: Laurie Anne Faulkner

What Are Closing Costs? When buying a home, especially upon purchasing your first home you will need to budget for extra expenses that will occur aside from your down payment. Some of the expenses re ...

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First Time Home Buyers Tax Credit

First Time Home Buyers Tax Credit

March 2, 2016 | Posted by: Laurie Anne Faulkner

  What is the home buyers' tax credit (HBTC)? Don't leave money on the table at Tax time if you bought your 1st home last year! You may be able to take advantage of the Home Buyers Tax Credit ...

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First Time Home Buyers RRSP Plan

First Time Home Buyers RRSP Plan

January 1, 2016 | Posted by: Laurie Anne Faulkner

What is The First Time Home Buyers RRSP Home Buyers Plan? The Home Buyers’ Plan (HBP) is a temporary “loan” from your RRSP — you must pay back the amount you borrow from your ...

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How Much Can You Afford?

How Much Can You Afford?

November 9, 2012 | Posted by: Laurie Anne Faulkner

How Much Can You Afford?  Before you begin shopping for a home, it’s important to know how much you can afford to spend on homeownership. You will want to plan ahead for the various expens ...

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The Home Buying Process

The Home Buying Process

October 30, 2012 | Posted by: Laurie Anne Faulkner

Determine what type of home suits your situation A good starting point is to think about the type of home that is right for you. There are a lot of choices out there, from condo apartments, to condo ...

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How to Save for a Down Payment

How to Save for a Down Payment

October 30, 2012 | Posted by: Laurie Anne Faulkner

What is a Down Payment? A down payment is the money you put forward toward the price of a home – your cash outlay - this amount needs to be a minimum of 5% of the purchase price and your deposi ...

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What Documentation Will I need?

What Documentation Will I need?

October 30, 2012 | Posted by: Laurie Anne Faulkner

What Documentation Will I Need for My New Mortgage? When buying a new home or refinancing your existing mortgage, certain documentation is needed to support your mortgage request. By providing us wit ...

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Do I Need a Guarantor?

Do I Need a Guarantor?

October 30, 2012 | Posted by: Laurie Anne Faulkner

Do I Need A Guarantor or Co-Signor? Some times when you are ready to buy a home, certain factors will get in your way- maybe you don’t have enough income to qualify for a property in the price ...

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Understanding the Closing Process

Understanding the Closing Process

October 30, 2012 | Posted by: Laurie Anne Faulkner

Understanding The Closing Process If you understand the closing process for your new home everything will move along much smoother and with less stress. Here are the steps that will happen once you h ...

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Ten Mortgage Terms You Should Know

Ten Mortgage Terms You Should Know

October 30, 2012 | Posted by: Laurie Anne Faulkner

Ten Mortgage Terms you Should Know Gross Debt Service – or Monthly Mortgage Payment including Taxes and Heat. This is a way of estimating the maximum home-related expenses you can afford to pa ...

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What is a Down Payment?

What is a Down Payment?

October 30, 2012 | Posted by: Laurie Anne Faulkner

What is A Down A Down Payment? A down payment is the money you put forward toward the price of a home – your cash outlay - this amount needs to be a minimum of 5% of the purchase price and your ...

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Your First Home Mortgage

Your First Home Mortgage

October 30, 2012 | Posted by: Laurie Anne Faulkner

Your First Home! When you’re in the middle of a hectic search for the right home, it’s important that you don’t buy a property that’s more than you can afford. There are some ...

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Working With a Realtor

Working With a Realtor

March 5, 0001 | Posted by: Laurie Anne Faulkner

Working with a Realtor Once you are pre-approved, it is time to obtain the services of a realtor. Engaging a licensed Real Estate Professional is one of the first and most important steps you should ...

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