Good news everyone,
Our government has continued the program for Affordable Home Ownership...
Basically if you meet the criteria, you are eligible for 5% of the purchase price of a brand new home in the region, interest free.
If you stay in the home for 20 years, you don't even have to pay it back. If you sell earlier, then you have to pay back the 5% plus a small portion of your capital gains, but with prices escalating in this area, particularly for new homes, there should be plenty of gains to divvy up.
Its an excellent way to get into the real estate market and time is limited. Also Eastforest homes, one of the prominent home builders in the area is slated for a $10,000 price increase in the next little while due to increased lot levies, so now is a good time to find a new house that still eligible...The purchase price must be below $231,000.
Check out my website with info all about it www.kwfirsttimebuyersprogram.com
I can walk you through the application process.
The basic eligibility criteria are:
• Qualify for a mortgage,
• Have a maximum household income of$69,500,
• Be at least 18 years of age and currently renting,
• Not own or have an interest in a home,
• Not owe money to a community housing landlord,
• Be a legal resident of Canada, and
• Intend to have this home as your one and only residence.
Monday, October 26, 2009
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