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Purchasing a property is a momentous decision and a significant investment in your lifetime. Owning your dream home should be an unforgettable experience, free from regrets and costly mistakes. However, the home-buying process can still be intimidating for many Canadians, leading to overlooking crucial aspects of property shopping.
With Gold Estate Realty by your side, fear not! Our team of expert realtors ensures you navigate the process seamlessly. We understand every aspect of real estate, guiding you to make well-informed decisions. Trust in our professionalism, knowledge, and dedication to finding your perfect home. Let us lead the way as you embark on this exciting journey to find the home of your dreams!
To purchase real estate in Canada, a minimum down payment of 5% of the property’s purchase price is required. When unable to afford a 20% down payment, consider a high-ratio mortgage, requiring mortgage loan insurance. The down payment amount varies based on the property’s price.
For houses priced at $500,000 or less, a 5% down payment is sufficient. Homes between $500,000 and $999,999 necessitate a 5% down payment for the first $500,000 and an additional 10% for the amount exceeding $500,000. For properties valued at $1 million or more, mortgage loan insurance isn’t available; you must finance at least 20% of the purchase price. Ensure a smooth home-buying process by planning your down payment wisely.
Discover a range of government financial assistance programs when purchasing real estate in Canada. These include the First-Time Home Buyer Incentive, Home Buyers’ Plan, and Home Buyers’ Amount Tax Credit (formerly known as the First-Time Home Buyers’ Tax Credit).
For more details on these federal schemes aimed at supporting first-time homebuyers, reach out to us. Even if you find yourself ineligible for these incentives, worry not. We have partnered with leading mortgage providers to offer affordable home loans, catering to buyers of all levels, whether it’s their first or fiftieth property.
Call us now to book a FREE consultation with Shammi Bawa. Let’s make your homeownership dreams come true super soon.
Find the perfect home for you with Gold Estate Realty. Explore a wide range of properties and start your journey toward homeownership today.
Seeking Expert Advice? We’re Here to Help! Connect with our experienced team for real estate guidance and personalized solutions.
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Email- goldestaterealty@gmail.com
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