Jim Williams RE/MAX LifeStyles Realty. Selling! Call 604 463 2200 For A Free Market Evaluation

   

There are many incentives to help out the first-time buyer. There are now CMHC approved loans that allow you to finance your purchase with only five-percent and ten-percent .

Another option is the Home Buyers Plan. (HBP) In short, it allows the first-time buyer to withdraw from their RRSP funds up to $20,000 help with their down payment. It is to be paid back over a fifteen-year period.

The Property Purchase Tax Exemption protects the first-time buyer from paying the one percent on the first $200,000 and two percent on the balance. The maximum purchase price in this program for Greater Vancouver is $850,000. There are other clauses as well, but contact Jim for more information as they will be happy to help explain them to you

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