Loading...
Michael Kelly

Selected

    When would you like to visit...

    Complete the form below:
    Schedule a showing (optional):
    ’

    Michael Kelly

    Sales Representative

    Sutton Group Realty Systems Inc., Brokerage

    Great News for First Time Buyers: More government incentives that can help bring home ownership dreams to reality!

    The First Time Buyer Incentive Program

    First Time Home Buyers Incentive Program Details: 


    The First Time Home Buyer Incentive helps qualified first time buyers reduce their monthly mortgage carrying costs without adding to their financial burdens. Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadians, on a First Come First Service Basis


    Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P.  Just keep in mind this is a C.M.H.C. insured mortgage program. Total down payment is to be “less” than 20% downYou can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction.  Simplified, this is a shared equity mortgage program with the Government of Canada. 


    The Incentive funds will be a second mortgage on title.  There will be no regular principal payments, no interest and has a maximum repayment term of 25 years or sooner if the property is sold. You can repay the Incentive at any time without a prepayment penalty.  However, the repayment is based on the property’s fair market value.


    The Government will share in the upside and downside of the property value upon repayment.   Essentially the government is re-paid by their shared equity from the value of the property.





    How Does The First Time Home Buyer Program Work?


    The incentive enables first-time homebyers to reduce their month morgage payment without increasing their downpayment. The incentive is not interest bearing and does not require ongoing payments.


    Through the First-Time Home Buyer Incentive, the Government of Canada will offer:


    An example, you receive a 5% incentive of a resale home that you purchase for $480,000, and you receive a $24,000 incentive, then perhaps your home value increases to $600,000 your payback would be 5% for the current value which would be $30,000. 





    Eligability and Requirements: 


    Who Can Apply?


    • Canadian citizens, permanent residents, and non-permanent residents who are legally authorized to work in Canada
    • Borrowers must have a maximum qualifying income of $120,000
      • Total qualifying income must be $120,000 per year or less
      • This is subject to qualifying income requirements set out by lenders and mortgage loan insurers​
    • ​At least one borrower must be a first-time homebuyer


    More Information and Downloads: 


    For more First Time Home Buyer Incentive Program Details download more information below. 


    Download: Home Buyers Government Incentives - Down Payment Program


    A simple example would be if your combined income is 120,000 x 4 the maximum purchase price would be $480,000 plus the down payment. There is a scaling price based on your down payment and the governments incentive so we have created a spread sheet for easy reference.


    Download: Maximum Purchase Price Charts for the First Time Buyers Program


    Call us today for more details at 647-408-5226 for this and other Government Programs available to help you with Home Ownership. Funds are limited, and timing is important, so please ensure to get all the details for a well-planned home purchase.



    Listings Under $500k

    732 Listings Found
    Loading...
    You are viewing 465 out of 732 Listings. Quick Sign Up for full access.
    MLS®#:C5181307
    Status:For Sale 
    Type:Condominium
    Community:Niagara - Toronto
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    Welcome To Parc Lofts A Sleek 10 Storey Boutique Building Designed By Peter Clews! This Stunning One Bedroom Modern Loft Features An Open Concept Layout With Natural Bright Light & Floor To Ceiling Windows! Engineered Hardwood, 10 Ft Ceilings, Great Size Balcony With Gas Bbq Line, Modern Kitchen With Lots Of Cupboard Space, Stone Counters & Stainle....More details

    View Details
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    MLS®#:C5096936
    Status:For Sale 
    Type:Condominium
    Community:Kensington-Chinatown - Toronto
    • 1

    • Area:

      0-499 Sq Ft

    Luxury Boutique Style Building In The Heart Of Fashion District. Open Concept Layout, Ceiling To Floor Windows , Free Visitor Parking .24 Hr Public Transit , Ttc At Your Doorstep, Close To Union Station, Best Restaurants, Cafes, Groceries, Shops And Theaters.

    View Details
    • 1

    • Area:

      0-499 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    $500,000

    1309 - 6 Eva Rd

    MLS®#:W5191313
    Status:For Sale 
    Type:Condominium
    Community:Etobicoke West Mall - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Beautiful Open Concept 1 Bed + Den Condo Unit Immaculately Maintained, Modern Kitchen With Granite Counter Top, S/S Appliances, Eat-In Breakfast Island. Den Could Be Used As A Second Bedroom. This Amazing Unit Comes With 1 Locker And 1 Parking.

    View Details
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    MLS®#:E5192263
    Status:For Sale 
    Type:Condominium
    Community:Scarborough Village - Toronto
    • 3+0

    • 2

    • Area:

      1400-1599 Sq Ft

    This One Is The Show Stopper!Completely Updated 3-Bed Family Home Walking Distance To The Lake & Siding Onto Park!Upgraded Vinyl Plank Flooring T/O Main.Kitchen Includes Granite & Breakfast Bar W/ Live Edge Wood.Generous-Sized Rooms,2 Completely Renovated Baths,Ensuite Laudry,1 Oversized Parking & Owned Locker.Private Fenced Garden!Front/Rear Entra....More details

    View Details
    • 3+0

    • 2

    • Area:

      1400-1599 Sq Ft

    MLS®#:C5192019
    Status:For Sale 
    Type:Condominium
    Community:Waterfront Communities C1 - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    The King And You. Large One Bedroom + Separate Den At Trendy Victory Lofts, Which Is Perfectly Located At King/Spadina! Awesome Features Include: Open Concept Living/Dining, Modern Kitchen With Integrated Appliances, Hardwood Floors, Large Bedroom With Double Closet, Ttc At The Door And A Large 100Sqft Plus Balcony! Don\'t Miss Out!

    View Details
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    MLS®#:C5174372
    Status:For Sale 
    Type:Condominium
    Community:Waterfront Communities C1 - Toronto
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    Boutique Hotel Style Chic Condo Next To Shangri-La Hotel Located In The Heart Of The Financial/Entertainment District. South Facing, One Bdrm W 9\' Ceiling. 644 Sqft With Balcony. Spacious/Open Concept, Model Kitchen. State Of The Art Amenities Include Gym, Counter Current Pool. South Beach Style Rooftop Terrace W/Skyline Bar Lounge

    View Details
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    MLS®#:W5184985
    Status:For Sale 
    Type:Condominium
    Community:Brant - Burlington
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    Beautiful Condo Located On The 8th Floor With Western Exposure! 1 Bed Plus Den, 1 Bath, Over 600 Sq. Ft With 9-Ft Ceilings, Vinyl Flooring & Large Windows T/O! This Unit Features A Modern Kitchen And A Spacious Living Room That Has Access To The Oversized Balcony With Beautiful Views! 1 Parking Spot & 1 Storage Locker. Amenities: Sky Lounge, Exerci....More details

    View Details
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:C5191553
    Status:For Sale 
    Type:Condominium
    Community:Willowdale East - Toronto
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    Gorgeous, Bright & Spacious Rarely Offered Se View 1 Bedroom Suite In A Highly Sought After Condominium With World Class Amenities Located On Yonge St In The Heart Of North York Among Some Of The Best Restaurants, Bars, Cafes, Parks, Grocers, Fitness Studios, Shopping & Entertainment In Toronto! Short Walk To Finch Ttc & Go Station. Building Is Con....More details

    View Details
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    732 Listings Found
    Loading...

    Load More

    Loading...