Register Early for Free 1st-Time Home Buyers’ Seminar
This seminar is being held in Vancouver
Showing posts with label first time home buyers. Show all posts
Showing posts with label first time home buyers. Show all posts
Tuesday, 26 February 2013
Wednesday, 6 February 2013
Post from Scott Jenning Mortgage Specialist
Good morning,
A strategic idea for your clients to use when it comes to
beefing up their down payment.
Clients are encouraged to speak with their accountant before
proceeding.
This is designed for First Time Home Buyers who are eligible
to draw 100% of their RRSP contributions up to $25,000
NOTE: Tax refund amount is based upon client’s annual
income.
Idea:
Client is short on their Down Payment (DP) so they take
their money in Savings and purchase an RRSP. Client files their taxes and
receives a tax return.
Client places the tax return into their savings and on day
91 they are eligible to withdraw their RRSP for home purchase.
RRSP + Tax Return = DP for a home purchase.
You now have a home buyer ready in just 91 days with a solid
down payment.
This scenario works nicely when the client along with their
accountant can determine the size of the tax return.
Scott
Scott
Jennings | Mobile Mortgage Specialist
TD
Canada Trust | Okanagan
532 Yates Road, Kelowna, BC, V1V 2V8
PH - 250-864-4414 FAX – 866-810-9948
Thursday, 21 June 2012
Special programs for first time BC home buyers.
The real estate prices in BC are high in comparison to much of Canada
relative to average income. Which makes it difficult for first time
home buyers. Here are some helpful programs that first time home buyers
can access to assist them with their first home purchase.
The programs are:
1) Property Transfer Tax Exemption for the first time Home Buyers. This program exempts first time home buyers from paying the BC property transfer tax. Which can save you up to $6,500.00. To receive this exemption you must first qualify
.
2) RRSP First Time Home Buyers Plan. This program allows first time home buyers to loan themselves previously claimed RRSP contributions tax free to assist in the purchase of a home. You have to qualify to use this plan also.
3) First Time Buyers New Home Bonus. This is a limited time rebate introduced with the enhanced HST rebates for first time home buyers buying New Homes and you only have until Mar. 31 2013 for this one. Again you must qualify to use this.
The programs are:
1) Property Transfer Tax Exemption for the first time Home Buyers. This program exempts first time home buyers from paying the BC property transfer tax. Which can save you up to $6,500.00. To receive this exemption you must first qualify
.
2) RRSP First Time Home Buyers Plan. This program allows first time home buyers to loan themselves previously claimed RRSP contributions tax free to assist in the purchase of a home. You have to qualify to use this plan also.
3) First Time Buyers New Home Bonus. This is a limited time rebate introduced with the enhanced HST rebates for first time home buyers buying New Homes and you only have until Mar. 31 2013 for this one. Again you must qualify to use this.
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