First Time Home Buyers - It's no longer a dream!
Buying a First Home is extremely exciting. When you’re buying your first home, you are most likely un experienced and are completely confused about the processes.
But, you actually have a few perks when it comes to getting your first time home buyer mortgage and even with sellers!
- You have an advantage over other home buyers
- With a pre approval you can get even more benefits
- It is a speedy process for you
- Your broker can get you better deals
Why we need Mortgage Brokers Help?
Since you are availing a first time home buyer mortgage, your mortgage broker can get you better deals with lenders. This can definitely help you make a good and defined choice on your first time home buyer mortgage.
Since you are a low risk candidate and you will have no line in getting the benefits if you sell your property, lenders are eagerly ready to provide you with a first time home buyer mortgage. They can get you better rates and deals with lenders and you will have a wider range to choose from.
Is there a tax credit for first time home buyers?
The best benefit from being a first timer availing a mortgage is that you can get tax deductions on the interest rates of your first time home buyer mortgage. You are eligible for this if your mortgage loan is less than a million, the mortgage is a secured one and also it is for a qualifying home.
If you can put a tick against these criteria you can avail refunds on your income tax returns for the interest rates and deposits associated with the mortgage plans.