Overview

Genworth Canada can help qualified home buyers

make their new home just right for them, with tailored

improvements, immediately after taking possession of

the purchased property. All this can be done with one

manageable mortgage and with only 5% down.

With the Purchase Plus Improvements

Program borrowers can…

• Renovate their new home immediately after taking

possession

• Enjoy the convenience of having one mortgage payment

• Benefit from lower interest rates

For more info Please Give me a Call 

Susan Paulsen

Federal Budget homeowner loan
To help make home ownership more affordable for first-time home buyers, Budget 2019 introduces the First-Time Home Buyer Incentive.

The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and Housing Corporation (CMHC).

It is expected that approximately 100,000 first-time home buyers would be able to benefit from the Incentive over the next three years.

Since no ongoing payments would be required with the Incentive, Canadian families would have lower monthly mortgage payments. For example, if a borrower purchases a new $400,000 home with a 5 per cent down payment and a 10 per cent CMHC shared equity mortgage ($40,000), the borrower’s total mortgage size would be reduced from $380,000 to $340,000, reducing the borrower’s monthly mortgage costs by as much as $228 per month. Terms...