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Blog: What Is The First Time Home Buyer Incentive?
Do I qualify for the FTHB Incentive?
You qualify if:
- Your total qualifying income does not exceed $150,000 if the home is located in Toronto, Vancouver, or Victoria or $120,000 anywhere else in Canada.
- Your total borrowing amount is less than 4.5 times your income if the home is located in Toronto, Vancouver, or Victoria, or less than 4 times anywhere else in Canada.
- The total amount you put down must be less than 20% of the home’s purchase price.
Click here to learn more: gopineapple.com/what-is-the-first-time-home-buyer-incentive
Call me today to find out if you qualify for the FTHB Incentive.
Do I have to pay back the First Time Home Buyers Incentive? Yes – but only after 25 years or when you sell the home – whichever comes first.
You also have the option to repay the loan at any time of your choosing without penalty.
Find out how the First Time Home Buyers Incentive can boost your down payment and lower your monthly mortgage payments by clicking here: gopineapple.com/what-is-the-first-time-home-buyer-incentive
How Does The First Time Homebuyers Incentive Work? It’s a shared equity mortgage with the Government.
If you qualified to receive 5% of your home’s purchase price of $350,000, the incentive would equal $17,500. If the value of your home increases to $450,000, you’d need to pay back $22,500, which is 5% of its current value.
Click here to find out how the First Time Home Buyers Incentive can help you get into a dream home faster: gopineapple.com/what-is-the-first-time-home-buyer-incentive
Email Automation Updates
Did you know, that when you add a Potential Borrower lead into MyPineapple, it flows through an amazing automated journey so your clients get segmented and sent through our custom-built educational and nurturing journey about the mortgage process. Click here to learn more!
Christa Mitchell meets with Jim Lang to discuss how PINEAPPLE mortgage company raised $15,000 to benefit youth sports and the MLSE Foundation.
THE MORNING RUSH – Shubha Dasgupta on “Gifted Down Payments and How Do They Work?”
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Questions for the Marketing Department? Please create and submit a Case in MyPineapple and we will be happy to assist you!