🏡 MORTGAGE MASTERY SERIES: PART 1 : FIRST-TIME HOME BUYER BENEFITS 🏡
Stepping into the Ontario housing market for the first time? You don’t have to do it alone! Here is your ultimate checklist of powerful government benefits and programs designed to supercharge your down payment and reduce closing costs:
✅ Home Buyers' Plan (HBP): Withdraw up to $60,000 tax-free from your RRSP to put toward your purchase.
✅ First Home Savings Account (FHSA): Combine tax-deductible contributions of up to $8,000 annually (lifetime limit $40,000) for ultimate tax-free growth.
✅ Land Transfer Tax Rebates: Save up to $4,000 provincially, plus an additional $4,475 in Toronto (totaling up to $8,475 in direct rebates!).
✅ 30-Year Insured Amortizations: Lower your monthly carrying costs on newly built homes with insured mortgages.
✅ CMHC Premium Structures: Clear guidance on premium tiers (2.80% - 4.00%) so you can budget accurately from day one.
Don't leave free money and valuable tax savings on the table. Let’s build a bulletproof financing strategy tailored to your goals!
Amit Bhatnagar, Mortgage Agent Level 2
Phone: 437-776-5148
Email: mortgagebyamit15@gmail.com
FSRA License 10530
