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It's that time again — I am here to share exciting opportunities for our future homeowners.
43% of Canadians say that they plan to buy a home in the next 5 years. That's almost half of the potential market, just waiting for the right guidance to make their move!
Today, we’ll explore mortgage grants and assistance programs you can share with your clients to buy a home.
First-time Home Buyers’ Tax Credit
This isn't just small change - a $10,000 non-refundable tax credit could mean up to $1,500 back in your client's wallet. It's a sweet start to their home buying journey.
First-Time Home Buyer Incentive
This program is like having the government chip in on the purchase price of a new home. Depending on the home, your clients could see 5% or even 10% of the price covered, which makes their mortgage payments smaller.
GST/HST New Housing Rebate
If your clients are building a new home or renovating an old one, they could get back a part of the GST or HST they pay. It's a nice way to save some money on a big project.
Land Transfer Tax Rebate
Buying a home in Ontario, Toronto, BC, or PEI has a perk. First-time home buyers can get some of the tax they pay for transferring land back, leaving more money in their bank account. More savings, more smiles.
Home Buyers’ Plan
If your clients need extra money for their down payment, they can borrow up to $35,000 from their retirement savings (RRSP). The best part? They won't pay any tax on this money as long as they pay it back in time.
Canada Greener Homes Grant
For clients who want to make their home eco-friendly, there's up to $5,600 available to help pay for things like energy assessments and green upgrades.
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