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

    789 Listings Found
    Loading...
    You are viewing 551 out of 789 Listings. Quick Sign Up for full access.
    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    MLS®#:W5273079
    Status:For Sale 
    Type:Condominium
    Community:Freeman - Burlington
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    With Over 700 Sq Ft Of Living Space, This 2-Year Young, Open Concept Condo Suite Would Be Perfect For A First-Time Homeowner, Down-Sizer Or Investor! Quartz! Stainless Appliances! Luxury Vinyl! Carpet Free! Walk-In Closet! In-Suite Laundry! Floor To Ceiling Windows! 87 Square Feet Balcony! Parking & Locker Included! Incredible Resort-Like Amenities....More details

    View Details
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    $500,000

    127 Queen St S

    MLS®#:X5278507
    Status:For Sale 
    Type:Residential
    Community:Durand - Hamilton
    • 2+0

    • 1

    Welcome To 127 Queen Street South - A Trendy, Inner-City Century Cottage Located In The Beautiful Durand Neighbourhood. Step Inside And You Will Feel The Love That Has Gone Into This Home. Custom Wormy Maple Floors And Trim, Live Edge Counters, Copper Sinks, Functioning Window Shutters .... The Vibe Here Is Unbelievable! The Bonus Second Bedroom/Lo....More details

    View Details
    • 2+0

    • 1

    MLS®#:E5276555
    Status:For Sale 
    Type:Condominium
    Community:Woburn - Toronto
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    Very Well Maintained Clean & Quiet Two Bedroom Layout With 2 Baths. Great Hardwood Flooring. S/S Fridge, S/S Stove, S/S Dishwasher, S/S Hood Fan! Renovated Kitchen. All Window Coverings & Electrical Light Fixtures. New Washer, Dryer With Locker And Parking. Great For First Ownership And/ Investments. All Utilities Included In The Condo Fee.

    View Details
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    SHOW ALL LISTINGS

    Sign-up for full access to all listings

    $500,000

    149 Gibson Ave

    MLS®#:X5213814
    Status:For Sale 
    Type:Residential
    Community:Gibson - Hamilton
    • 3+1

    • 2

    • Area:

      1100-1500 Sq Ft

    3 Bed 2 Bath Home Featuring Updates To Flooring Kitchen And Bath. 2Pc Bath And Laundry On The Main Level. Full Basement. Parking Available Off Of Alley, Deep Lot Possible Future Tiny Home Location From Alley. Close To Shopping Schools And Park. Tenant Is Month To Month Possible 60+ Days Possession.

    View Details
    • 3+1

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:W5270416
    Status:For Sale 
    Type:Condominium
    Community:Cooksville - Mississauga
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Spacious 3-Bdrm Suite With 1.5 Bath, Sunny South East Corner With A Panoramic View Of Lake & T.O Skyline From The Private Balcony. Well Maintained Building With Updated Lobby, Elevator & Hallways. Outdoor Pool, Treed Garden & Patio Areas. Walk To Cooksville Go Station, Steps From Future Hurontario Lrt. Asking Price Reflects Fair Market Value, Your ....More details

    View Details
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:W5274262
    Status:For Sale 
    Type:Condominium
    Community:Willowridge-Martingrove-Richview - Toronto
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    Stunning Condo Showcasing A Modern Design & Amazing Layout With A Large Open Concept Lr/Dr Area, Gorgeous Kitchen With S/S Appliances, Tons Of Cupboard/Counter Space & Large Breakfast Bar. Huge Primary Bdrm With Wall-To-Wall Closet & Generous Bath With Ample Storage. Recently Updated With New High Quality Flooring, New Baseboards, Freshly Painted &....More details

    View Details
    • 1+0

    • 1

    • Area:

      600-699 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

    MLS®#:C5277036
    Status:For Sale 
    Type:Condominium
    Community:Clanton Park - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Fabulous 1+1 Bedroom Unit At The Portrait Luxury Boutique Building. Spacious W/Tons Of Natural Light, 9Ft Ceilings & Hardwood Flooring. Modern Floor Plan W/French Balcony Incl: Stunning Upgraded Kitchen W S/S Appliances, Granite Counters, Custom Backsplash & Breakfast Bar. Bright, Generoussize Bedroom. Bathroom W/Stone Countertops & Deep Soaker Tub....More details

    View Details
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    789 Listings Found
    Loading...

    Load More

    Loading...