First Time Home Buyer - Oshawa Mortgage Intelligence

First Time Home Buyer - Oshawa Mortgage Intelligence

First Time Home Buyers
A recent CMHC survey indicates that 44% of First Time Buyers use Mortgage Brokers! Younger buyers use the Internet to research before making buying decisions. Mortgage Brokers make it easy to get pre-approved online and there’s no cost. Credit scores are protected when only one credit bureau is pulled regardless of the number of lenders that see your application.

Mortgage Brokers traditionally offer more competitive rates than Banks so using them can save time and money!

Down Payment Options:

Banks no longer offer Zero Down Mortgages but Mortgage Brokers still do!

You can use your RRSP savings as a down payment.

If credit is excellent you can use gifted funds from a family member or you may borrow the down payment.

Mortgage Insurance:

In Canada there are three Mortgage Insurers when buying a home with less than 20% down. They are CMHC, Genworth and Canada Guaranty. Fees are similar for all three. The cost of the Mortgage Default insurance is included in the mortgage amount at closing. It is not a separate payment.

Land Transfer Tax Rebates:

Currently, First Time Buyers qualify for Land Transfer Tax rebates. If one spouse in a transaction has owned a house in the past, then the rebate will be reduced, but the true First Time Buyer will still get the benefit.

Closing Costs:

Closing costs vary depending on the value and location of the home. There are legal fees, title insurance and other fees associated with the transaction. It’s always best to have your law office go over the totals with you early on in the transaction so there are no surprises.

The CMHC survey confirms that First Time Buyer rely on Mortgage Brokers, so pick up the phone or email us now. We’re here to help you get your first home and save you thousands in the process! We’re toll-free at 866-452-1100.
We provide mortgages to first time home buyers in Oshawa, Ajax, Uxbridge, Whitby, and through Durham, Ontario.

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First Time Home Buyer Testimonials:

Kelly and the team were totally fantastic when I was buying my first home. It was a pretty stressful time with an unexpected obstacle. After speaking to Kelly she made many phone calls and sent e-mails until everything was looked after. I now own my first home. Great work and thank you all so much!

Elisa P, Lindsay, Ontario

From the first time I talked to Mortgage Intelligence Oshawa I knew that I had chosen the right mortgage company. They were attentive to my questions and went the "extra mile" to get the mortgage that best suited my needs at the lowest possible rate. Coming from a small Northern community, I found that the quality of service was above and beyond my expectations. Although the office is located in Oshawa and I live in Cochrane ON, we had no difficulty communicating by emails and phone calls. It felt like I was right there in the office and everything was dealt with in a professional and timely fashion. I would not hesitate to recommend the services of Mortgage Intelligence Oshawa.

Denise J. - Cochrane, ON

After completing the online application for a pre-approved mortgage, I was thrilled to receive a call from Kelly, my mortgage representative, who was very courteous and friendly. She made the whole process very easy and stress free. She was very honest and helpful throughout the whole process. I couldn't have gone to a better mortgage specialist.

K. Gough, Oshawa Ontario