First time buyer with only 5% down payment? Take advantage of the savings The Anchor can offer you!
So what does it really mean to be a "First Time Buyer"? To qualify as a first time buyer it means, you guessed it, that you’ve NEVER purchased a home before. So what’s the big deal anyway and why should you take notice?
- If you‘ve been doing your homework you will have most likely discovered that the majority of new condo communities require a 20% deposit at a minimum! As a first time buyer with limited savings it can appear that purchasing your first home will take FOREVER! However, at The Anchor, a first time buyer can purchase their home with just 5% down! Talk to your mortgage broker to see if you qualify for a CMHC insured high-ratio mortgage (5-20% down payment). Once that is confirmed you’re in!
- Did you also know that as a first time buyer you are exempt from paying the BC Property Transfer Tax? To qualify for this one time exemption, you must have:
- never owned a property anywhere in the world before,
- be a Canadian citizen or permanent resident and have lived in B.C for 12 consecutive months prior to completing the sale, and,
- the purchase price cannot exceed $425K and it must be your primary residence
This one time exemption can equate to a savings of up to $6500!
For more info on the program visit: http://www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1
The Anchor offers a number of great homes at price points perfect for the first time buyer! If you would like to speak to our sales staff about our deposit structure and how you can qualify or would like to take a look around our Sales Presentation Centre, we are open every day (except Friday’s) from 12 – 5pm.
Visit us at 131 East 3rd Street, North Vancouver, BC or call 604-988-8800 for more information.