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    Wayne Winch & Brenda Brouwer

    REALTORS®

    Re/Max All-Stars Realty Inc., Brokerage

    ​As of September 2nd 2019, Canadians interested in the First-Time Home Buyer Incentive can submit their applications for a shared equity mortgage with the Government of Canada.


    The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs by financing 5% of existing homes, and 10% for new construction, in an interest free loan, in exchange for equity stake in the property. This Incentive allows eligible first-time homebuyers, who have the required 5-15% minimum down payment, to apply for a shared equity mortgage with the Government of Canada under a couple guidelines:


    • Applicants must not have owned a house in the last four years (exceptions will be made for those who sold their home due to divorce and/or are currently in a second marriage/common law partnership with someone who qualifies as a first time home buyer more on that here)
    • Your combined annual income must be lower than $120,000 before taxes and deductions

    What’s the catch?


    The percentage of equity you pay back to the government will be either 5% or 10% of the value of your home on the date you pay back the loan, not on the date you took it. The amount of $$ you pay back will fluctuate based on how much your home increases, or decreases in value from the date of purchase, to the date the loan is repaid. 


    The loan must be paid back when you:


    • Refinance 
    • or Sell your home 
    • or after 25 years 


    The maximum property value, covered under the program, is $565,000


    Will you qualify?


    If you...


    • Pass the Mortgage Stress Test
    • You have saved at least 5% of the asking price of the home you are purchasing
    • Have good credit 
    • Are steadily employed


    Buying your first home may be closer than you think!


    Use the Eligibility Calculator from the National Housing Strategy website to find out how much you may qualify for.



    Example:


    Purchase price: $500,000

    5% down payment $25,000

    3.19% interest rate, amortized over 25 years

    Annual household income: $120,000


    Expenses:

    800 family and grocery

    850 transportation

    1340 other expenses

    232 property taxes


    This scenario qualifies to finance 5% for $25,000 from the first-time home buyer’s incentive. 


    Mortgage Savings $145.49 each month



















    How do you apply?


    Your lender will get a statement from you that declairs that you are a first time home buyer and your solicitor will submit this, and additional paperwork to the Government. This may incur additional solicitor fees, please discuss this with your real estate lawyer


    Find a Home For Sale Up to $565,000 in Georgina

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    7 Listings Found
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    $425,000

    275 Pefferlaw Rd

    MLS®#:N5192022
    Status:For Sale 
    Type:Residential
    Community:Pefferlaw - Georgina
    • 2+0

    • 1

    • Area:

      < 700 Sq Ft

    Move In Ready! Perfect For Downsizing Or First Time Buyers! Charming And Pretty This Easy Living Bungalow Located In Desired Pefferlaw. Located A Short Walk To Pefferlaw Dam Conservation Area And Minutes To Lake Simcoe. Bright, Open Concept Offering Main Level Landry And Stainless Appliances.

    View Details
    • 2+0

    • 1

    • Area:

      < 700 Sq Ft

    $539,000

    218 Bayview Ave

    MLS®#:N5204421
    Status:For Sale 
    Type:Residential
    Community:Keswick South - Georgina
    • 2+0

    • 1

    Welcome Home To 218 Bayview Avenue! This Home Is Perfect For First Time Home Buyers. Situated On A Beautiful Mature Lot, Walking Distance To The Lake /Amenities/Transit. Walk Into A Spacious Living Room With A Beautiful Bay Window Offering Lots Of Natural Light. Combined Kitchen With Dining Room Making It Perfect For Entertaining. Two Spacious Bedr....More details

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    • 2+0

    • 1

    MLS®#:N5191765
    Status:For Sale 
    Type:Residential
    Community:Pefferlaw - Georgina
    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    A Great Place To Start Or To Settle Into In An Adorable Small Town Country Setting! Escape The Busy Day & Enjoy The Serenity With A Private 165Ft Deep Lot & Cozy, Well-Cared For 2 Bdrm 1 Bathroom Home To Rest And Relax In. This Lovely, Sun-Filled Bungalow Has Open Concept Layout, Walk-Out To Deck & Metal Roof. Property Boasts Two Workshops For T....More details

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    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    $249,900

    112 Sunkist Rd

    MLS®#:N5193220
    Status:Sale Pending 
    Type:Residential
    Community:Pefferlaw - Georgina
    • 3+0

    • 1

    Incredible Opportunity To Renovate Or Build Just 4 Lots From Lake Simcoe! Premium 80X116Ft Lot With No Neighbours Behind. Current Footprint Is 3 Beds, 1 Bath With Single Detached Garage. Be A Part Of The Sunkist Beach Association Offering Private Lake Access, Dock & Boat Launch At End Of Street.

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    • 3+0

    • 1

    MLS®#:N4999948
    Status:For Sale 
    Type:Residential
    Community:Baldwin - Georgina
    • 2+0

    • 1

    Lyndhurst Golf & Country Club Located 35 Mins From Toronto. Modular Home Park 14 X 43 Northland Meadowbrook Home On Quiet Street,It Is Not Year Around , Only 10 Months Allowed, No Home Across The Street. 2 Bedroom Home With Screened In Porch/Sunroom With Sliding Doors To Den. Bright Open Concept Living Room. Kitchen With Electronic Firepl. Cathedra....More details

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    • 2+0

    • 1

    $488,000

    21 - 40 East St

    MLS®#:N5150946
    Status:For Sale 
    Type:Condominium
    Community:Sutton & Jackson's Point - Georgina
    • 3+0

    • 2

    • Area:

      1400-1599 Sq Ft

    Conservation Tranquility Lives Here!!! Peaceful And Private Backyard Mini Oasis, Backing Onto Conservation. Walkout To Large Wooden Deck Off Of Family Room. Walk To Transit. Approx 2 Minutes To Highway 48 From This Roomy 3 Bedroom Plus Den Condo Townhouse. 7 Minute Drive To Jackson's Point Beaches. 4 Piece Bathroom Upstairs Has Heated Floors. Unfin....More details

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    • 3+0

    • 2

    • Area:

      1400-1599 Sq Ft

    $499,000

    27 Ravenswood Dr

    MLS®#:N5195195
    Status:Sale Pending 
    Type:Residential
    Community:Sutton & Jackson's Point - Georgina
    • 3+0

    • 1

    Terrific Investment Opportunity To Own A 3 Bedroom Home Just A Half Block To Lake Simcoe With Deeded Access To A Boat Launch Area. The Large Private Lot Is Fully Fenced And Includes A Detached Garage And Parking For 4 Cars. Also Included Is A New Gas Furnace And Hot Water Tank. The Roof Was Replaced About 4 Years Ago. Don't Delay Inspecting This Hi....More details

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    • 3+0

    • 1

    7 Listings Found
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