If you are going to buy a new property in Winnipeg or you have decided to sell your existing one, The Jennifer Queen Team is always there to help you. It’s important to deal with professionals who know the industry inside out. They can guide you during the buying and selling process. These experts are up front about services they will provide so you can trust them and get the needed support. Don’t hesitate to call this team and they will certainly help you every step of the way.
If you are interested in First Time Home Buyers Manitoba then never think twice and call The Jennifer Queen Team to get more details. The new First Time Home Buyer’s Incentive (FTHBI) came into effect in September 2019. This is a great program designed to make things as simpler as possible for young people. It helps eligible Canadians buy their first home by lowering the monthly mortgage payments. The federal government agreed to a $1.25 billion CMHC First-Time Homebuyer Incentive over three years. It will provide 5% of the cost of an existing home up to a maximum of $500,000 and 10% of the price of a new home. While it sounds like the federal government is providing an interest-free loan, know that they also secure shared equity in your home as it goes through gains and losses. This means the amount paid back to the government will fluctuate according to how much your home increases or decreases in value.
However, to qualify for the new First Time Home Buyers Manitoba you need to take these things into account:
- Applicants must have a down payment of at least 5% and no more than 20%. (CMHC insurance must apply).
- Household income must be less than $120,000.
- The mortgage cannot be more than four times the homebuyers' household income.
Moreover, you should also pay attention to these things:
- Applicants must not have owned a house in the last four years – exceptions will be made for those in a “breakdown of marriage or common-law partnership.”
- The loan must also be paid back under two circumstances:
- if you sell your home;
- or at the end of 25 years
If you are not buying but selling your property then you can find a lot of information if you visit the website of The Jennifer Queen Team. Almost all people nowadays find their home online and only 8% is a mix of print advertising, for sale signs, word-of-mouth or other. This means you should take care of your advertising budget wisely. Most of people use the MLS (Realtor.ca) system but you cannot have access to that if you are selling your home privately. If you are using brokerage houses to list your property while you handle the rest, such as FairSquare Winnipeg (formerly Purple Bricks Winnipeg and prior to that, ComFree Winnipeg), you will have a chance to access to the MLS system. Just remember that then you aren’t selling your home privately. However, when showing your home Privately Offered, or ComFree or Purple Bricks Winnipeg listings make sure your whole family is not at home. This is because it makes buyers feel uncomfortable to tour the home. Just contact The Jennifer Queen Team and learn more details!
0
