QUICK LINKS FOR FIRST TIME HOME BUYERS

Quick Links for First Time Home Buyers

Quick Links for First Time Home Buyers

There is an abundance of information to consider before you make one of the biggest purchases in your life. The following are websites that provide useful information about some things you will need to consider before the big purchase.

Property Transfer Tax Information

British Columbia charges a property tax on any home that is registered at the Land Titles Office. Below is a link providing information on how first time home buyers may qualify for an exemption.

Property Transfer Tax Brochure

Mortgage Insurance and Assistance

With mortgage loan insurance from CMHC you can own your home with a minimum down payment of 5%. At least 20% of the purchase price is usually required for a conventional mortgage.

Canadian Home Mortgage Insurance

Genworth Financial also provides a homeowner assistance program.

Genworth Financial

Preapproved Mortgage

Every home buyer should be pre approved for a mortgage before the search begins. Below are some mortgage calculators to give you a base idea, however, these calculators do not replace advice from a professional mortgage broker or a bank.

Royal Bank Mortgage Calculator

CMHC Mortgage Calculator

Canada Mortgage Calculator

If you would like to purchase a home or sell your home contact me at 250-469-2353 begin_of_the_skype_highlighting 250-469-2353 end_of_the_skype_highlighting, carol.bacon@century21. ca.

Carol Bacon

www.carolbacon.net

References

Province of British Columbia (2007).

http://www.sbr.gov.bc.ca/documents_library/brochures/firsttimehomebuyer.pdf.

Property Transfer Tax

and The First Time Home Buyers’ Program. Retrieved 2010-04-25

CMHC-SCHL (2009-2010). http://www.cmhc-schl.gc.ca/en/index.cfm.

Retrieved 2010-04-25

Genworth Financial (2008). http://www.smartermi.com/homeowner-

assistance.aspx. Retrieved 2010-

04-25

Royal Bank of Canada Website (2005-2010).

https://www.rbcroyalbank.com/cgi-bin/mortgage/mpc/start.cgi. Mortgage

Payment Calculator.

Retrieved 2010-04-25

CMHC-SCHL (2009-2010). http://www.cmhc-

schl.gc.ca/en/co/buho/buho_007.cfm. CMHC Mortgage Calculator. Retrieved

2010-04-25

Pioneer West Acceptance Corporation (2010).

http://www.canadamortgage.com/. Retrieved 2010-04-

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