First-Time Home Buyers in Orleans

Making the transition from renting to buying is a significant step for anyone. When you’re on the lookout for a place to call home, Borrowing Made Simple is happy to help you through the process.

Our highly qualified team has the professional advice and know-how you need to make an informed decision when it comes time to purchase your first home. Consult us on the best first-time mortgages available for your circumstances, and we’ll assist you in getting your finances in order.

If you’re ready to begin shopping for mortgage loans in Orleans, get in touch with us now at (343) 763-2019. We’ll set up a no-obligation consultation at the earliest convenience.

How Do You Qualify for First-Time Home Buyer Mortgages?

When you start looking at mortgages, you must know what the qualifications are and if you meet them. As someone who has not owned a home before, you should also meet the following criteria:

• Good credit score
• Stable job
• Consistent income
• Minimum 5% deposit

As mortgage brokers, we work with you to make sure all your documentation is readily available, and we’ll show them to potential lenders on your behalf.

What Programs Are Available for First-Time Home Buyers?

If you’re a buyer hoping to enter the housing market for the first time, the government has put programs in place to increase accessibility. These first-time homebuyer programs include everything from tax rebates to financial assistance with down payments. Some of these include:

• First-Time Home Buyer Incentive (FTHBI)
• First-Time Home Buyers’ Tax Credit (HBTC)
• Home Buyers’ Plan (HBP)
• GST/HST New Housing Rebate
• ... and much more!

What Are the Pros and Cons of First-Time Home Buyers Programs?

Without a doubt, these services provide much-needed support to lower-income families trying to own property. Still, we feel like you should realize what benefitting from these discounts could mean – especially in the long run.

Here’s a breakdown of the pros and cons of first-time home buyer discount programs.

Advantages

• Increased accessibility to the real estate market
• 10% interest-free mortgage loans
• Financial aid with deposits

Disadvantages

• Shared equity interest
• Investment constraints
• Limited eligibility clauses

On the one hand, there is so much to be gained with first-time homebuyer discounts, but on the other, there are pitfalls that can become problematic later. Our mortgage brokers can help you figure out if one of these programs is worth it for your current situation.

Which Loan is Best for First-Time Home Buyers?

Our specialists know all there is to know about mortgage loans. We’ll sit down and get to know you a little better, and from there, we’ll connect you with several trusted lenders willing to grant you a loan. Together, we’ll weigh out your options to see which mortgage is best for you.

Explore the Best Mortgages for First-Time Buyers in Orleans

If you’re in the market for your first home, Borrowing Made Simple makes it more feasible for you to become a homeowner in Orleans. Our mortgage brokers can help you find the best deals on first-time buyer mortgages, introducing you to the various discount programs applicable to you.

Book a no-obligation consultation now by calling (343) 763-2019. We look forward to helping you take the leap to homeownership.