Purchasing a home can often seem stressful and overwhelming but it doesn’t have to be. If you are a first time home buyer, the Canadian government has tax credits and rebates that can help you save on closing costs. The first is a First-time Home Buyers’ Tax Credit which allows you to retrieve some of the closing costs associated with a purchase, like inspections and legal fees. The second is a Land Transfer Tax Rebate that permits first time buyers to recover a percentage of the land transfer tax paid on their house. This applies only to Canadians living in Ontario, British Columbia and Prince Edward Island. Certain homeowners in the City of Toronto are eligible to receive an additional rebate as well.
As a seasoned home buyer, you may not be eligible for some of these government programs, but that doesn’t mean you can’t keep your buying costs low. A great option for all buyers is to apply for a mortgage pre-approval before purchasing a home. Refer to our mortgage pre-approval checklist to better understand what documentation you should prepare before applying.
Getting pre-approved will help you understand how much you can spend on your new home and allow you to lock in a great rate for up to 120 days (4 months)! Once your rate is secure, you will be able to avoid rising rates and focus on finding your perfect home. And if the interest rates decrease before you buy your new home, then you can always re-qualify for the lower rate.
At Clover Mortgage, it is our goal to match you with an experienced Mortgage Broker who will be dedicated to finding the best mortgage rate and term for you. Our mortgage expert Mortgage Agent work closely with each individual to make sure their financial goals are being met.
Our priority is to provide you with the best service in the industry, and the highest level of comfort and trust throughout the mortgage process. Our Mortgage Agents will provide you with honest and unbiased guidance and advice, while educating you on the various mortgage options that are available on the market. We do not rest until you are 100% satisfied with your mortgage and are in the home you love!
*Rates start as low as 4.74%
We pride ourselves on quick, easy & honest service. Our clients always come first.
We specialize in dealing with bad credit & bank declines. We turn a “no” into a “YES!”
*No credit checks. No complicated application and no income required!