Tips for Buying:
Know your credit score.
Credit is very important in Canada. Always be aware of your credit score. It will help to determine the quality of loan and interest rates you are eligible for.
Get pre-approved.
Pre-approval is the maximum amount a bank will commit to loan you in advance. It’s free to arrange pre-approved financing, non-committal and saves time and stress when buying.
Working with me, IT’S FREE.
Buyers don’t have to pay the sales representative fee, sellers do. Always work with a Realtor to ensure your best interests are being represented.
Understand costs.
Understand Land Transfer Tax, Appraisal Fees, Broker Fees, and Legal Fees.
Take advantage of the first time buyers programs:
LTT (Land Transfer Tax) Rebate: Ontario up to $4,000, Toronto up to $4,475.
FTHBI (first time home buyer incentive) launched in September 2019, aims at making it easier for Millennials to purchase their first home. Must have a household income of less than $120,000 and incentive must be paid back on the earlier of the sale of the home or in 25 years, or can be prepaid at any time with no pre-payment penalty. If you qualify, you apply for a 5% or 10% shared equity mortgage with the Government of Canada.
5% for a first time buyer’s purchase of a re-sale home
5% or 10% for a first time buyer’s purchase of a new construction
You must repay the incentive based on the current fair market value of the property, which could result in paying more than the initial amount borrowed
Home Buyers’ Tax Credit works out to a rebate of $750.
Canadian Government Home Buyers’ Plan allows a first-time homebuyer to borrow up to $35,000 from his/her RRSP for a down payment, tax-free.
What People Are Saying
“It was a pleasure working with Derek. He helped me purchase an investment home and made the transaction seamless from start to finish. I look forward to working with Derek for future purchases. Thanks again!”
— Hasan R.
“Derek worked with us to purchase our first condo. As first time home buyers, the process felt very overwhelming, but we are so grateful we found Derek to guide us through. He was committed and saw 22 units with us before we found our home. We appreciate all his hard work and would be happy to recommend him to anyone looking to buy!”
— Jennifer and Dan F.
