First-Time Home Buyers in Mississauga
Shopping for your first house is sure to be one of the most exciting experiences of your life. eMortgage Solutions wants to help you enjoy it more by taking the stress off your shoulders.
We provide comprehensive mortgage assistance and advising for first-time buyers in Mississauga. With many years of experience, we can locate the right mortgage for your needs and see if you are eligible to partake in any of the first-time home buyer discount programs in your area.
To book a consultation, get in touch with our first-time mortgage specialists now at (416) 258-0156. Our highly qualified team looks forward to being of assistance throughout the entire process.
How Does One Qualify as a First-Time Home Buyer?
To be able to provide you with the best mortgages for first-time buyers, we must first assess if you qualify as one. You must have:
- Family income below $120,000.00
- Financial stability and job security
- Satisfactory credit score
- Base 5% down payment
Which Loan Is Best for First-Time Home Buyers?
The best mortgage loan for first-time home buyers depends on the personal circumstances of each buyer. The most effective way to find out which mortgage is most suitable to you is to set up a no-obligation consultation at our mortgage brokerage firm. Our team will go over how you meet the qualifications for a first-time mortgage and proceed to negotiate mortgage rates and terms in your favor.
What Programs Are Available for First-Time Home Buyers?
Once we’ve assessed that you qualify for a first-time home buyer mortgage, we’ll introduce you to the discount opportunities available to you. Some of these include:
- First-Time Home Buyer Incentive (FTHBI)
- First-Time Home Buyers’ Tax Credit (HBTC)
- GST/HST New Housing Rebate
- Home Buyers’ Plan (HBP)
- And even more!
Each of these programs provides financial assistance to those hoping to purchase their first home. These efforts were established to encourage young families to buy in an increasingly expensive housing market.
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What Are the Pros and Cons of First-Time Home Buyers Programs?
If you are considering first-time home buyer discounts, our team believes you must have a full understanding of them. We have taken the time to outline some of the pros and cons below.
- Foot in the housing market (no more renting!)
- Financial aid for down payments
- Up to 10% interest-free mortgage loans
- Shared home equity interest
- Home investment restrictions
- Strict financial qualification clauses
To summarize, although these programs can provide a foot in the door for many young families, there are still pitfalls they should be aware of, such as a loss in home equity interest and more. Ask our mortgage professionals for further explanation of any of these points.
Contact eMortgage Solutions’s First-Time Buyer Mortgage Brokers Today
Our team wants you to know that homeownership in Mississauga is well within your reach. With our connections, knowledge, and financial expertise, we can help you get there sooner rather than later.
Give our first-time mortgage specialists a call now at (416) 258-0156. We look forward to helping you achieve your goal of being a homeowner.