Buying Your First Home In Ottawa

First Time Homebuyers

At last! All the pieces are coming together and it’s time to purchase your first home. The biggest financial decision of your life, owning a home will help set the stage for your family’s financial security and independence.

Purchasing your first home can sometimes feel overwhelming and complicated. Ottawa Mortgage Market can ease the stress and make the entire process easier. We’ll help guide you through every stage of the process, ensuring nothing is overlooked, and handle all of the heavy lifting for you.

Reasons to Refinance Your Home Mortgage

Home refinancing has numerous benefits, and Ottawa Mortgage Market can help you secure the best possible rates, and make it easy too.

Our Team

The Ottawa Mortgage Market team has extensive experience with first-time homebuyers. We’ve got the skill, experience and up-to-date knowledge of the challenges you face, and how to make things happen for you. There is always a solution, and we will find it.

Pre-Approvals

With a solid pre-approval from one of our lenders, you can shop confidently and even get a leg up on rivals bidding on your dream property. We’ll assess your financial situation and quickly get you pre-approved, with a rate held long enough to let you find the perfect home.

Options

Sure, you’ve dealt with your bank your whole life, but these long-term relationships don’t mean much when you are seeking your first mortgage. Ottawa Mortgage Market has access to a wide range of lenders who are happy to lend you the funds you need for your first home.

Down Payment

Currently in Canada, one requires a 5% down payment, however, the rules around what funds may be used as a down payment can be tricky. We can help you to navigate these rules, and discover additional funds that may be available to you, including small municipal-based programs offering down payment assistance.

First-Time Homebuyers Plan

The Government of Canada allows first-time homebuyers to withdraw up to $35,000 from RRSPs without penalty. Not only is this a great way to increase your down payment, but you might also receive a tax credit for putting your down payment savings into an RRSP for three months before purchase.

First-Time Homebuyers Incentive

This program offered by the federal government helps first-time homebuyers afford their new home through shared equity. In effect, the government becomes your partner in the mortgage, absorbing 5% or 10% of the total amount. This helps to reduce your expenses and make housing more affordable.

Land Transfer Tax Credit

The Province of Ontario offers a land transfer tax credit of up to $4,000 for first-time home buyers. This can significantly lower your closing costs, making the move a little more affordable.

You’re in great hands when you choose Ottawa Mortgage Market to help you purchase your first home. Have questions? Our expert advice is completely free. We’ll get you financed and make it easy too!