First-Time Home Buyers in Ottawa

Embarking on the journey to becoming a homeowner is an exciting moment for any young family.

At Borrowing Made Simple, we help you get your finances organized so that you may qualify for your first mortgage, as well as first-time homebuyer discount programs. Our mortgage brokers can provide you with trusted, professional advising on choosing the best first-time mortgage for your situation.

Contact us now at (343) 763-2019 to learn more about first-time buyer mortgages in Ottawa. We’ll also take the time to discuss the benefits and pitfalls of the discounts available to you.

What Programs are Available for First-Time Home Buyers?

There are many first-time homebuyer discount programs available, designed to help young adults enter the housing market. Each initiative hopes to ease the financial strain put on those who wish to ditch renting and finally become homeowners. They include:

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

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

The initial step is making sure you qualify for a first-time home buyer mortgage. Our mortgage brokers will walk you through the specific criteria you must meet. If you haven’t owned a home before, and have a household income below 120,000.00, you may indeed qualify for discounted mortgages and financial aid. You are eligible if:

  • You have a good credit score
  • You are employed with consistent, full-time income
  • You can make a minimum 5% down payment

Schedule a no-obligation consultation with our professionals, and we’ll be sure to determine if a first-time mortgage is right for you.

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

First-time home buyer mortgage programs come with their pros and cons. Here at Borrowing Made Simple, we believe it’s important that you’re well-informed on exactly how they work.

The most significant benefit of these programs is having access to a housing market that would be otherwise out of reach. Other major benefits include financial aid with deposits and up to 10% interest-free mortgage loans.

An important downside to consider is the loss of equity interest in the home you’re financing. This shared equity could mean increased mortgage payments in the future if the house gains value. Other pitfalls include constraints on the type of investment you can make.

Which Loan is Best for First-Time Home Buyers?

Get in touch with our team to find out which mortgage loan would be most suitable for you. We specialize in introducing first-time homebuyers to incredible financing opportunities available to them in their local area. Our expert mortgage brokers will walk you through to process and advise you on the best route to take to become a homeowner.

The Best Mortgages for First-Time Buyers in %MARKETYCITY1%

When it comes time to purchase your first home, Borrowing Made Simple has the skills and know-how to point you towards the best funding options for your investment.

Start the next chapter of your life today. Give us a call at (343) 763-2019 for more information.

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