- Mortgage Agent Level 1
- Mortgage Intelligence – Ontario Brokerage Licence #10428
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Buying your first home is a major milestone. Haris Paracha, Mortgage Agent Level 1 with Mortgage Intelligence, provides personalized guidance to help first-time home buyers across Ontario explore mortgage options that fit their needs and financial goals.
Buying your first home is an exciting milestone, and having the right mortgage guidance can make the process much easier. Haris Paracha, Mortgage Agent Level 1 with Mortgage Intelligence, works with first-time home buyers across Ontario to help them understand their financing options, compare mortgage solutions from a broad network of approved lenders, and make informed decisions with confidence.
Whether you’re purchasing your first condo, townhouse, or detached home, you’ll receive personalized support from pre-approval through closing.
Purchasing your first home can feel overwhelming, but the right guidance makes the process easier. Haris Paracha, Mortgage Agent Level 1 with Mortgage Intelligence, helps first-time home buyers understand mortgage options, navigate the application process, and prepare for homeownership with confidence.
How Haris Paracha Can Help:
First-time homebuyers receive additional incentives. First-time homebuyers in Canada receive tax benefits, rebates, subsidies, and programs. People selling their home and buying a new one may also benefit.
First-time homebuyers in Ontario can use several tax relief options to help with home purchasing costs.
First-time homebuyers in Ontario, Canada, can use their RRSP savings for a down payment under the RRSP Home Buyers' Plan. You can withdraw $35,000 from your RRSPs for a down payment, which must be repaid within 15 years. You also risk cannibalizing your savings, which increases retirement financial stress. Consider the benefits and downsides, investigate this option, and contact us to discuss it.
When selling a Canadian-built home, GST or HST is added. The GST/HST new housing rebate partially reimburses federal or provincial taxes. Refunds are only available for new housing, home renovations, and land-owned house construction. There is a refund for brand-new homes that anyone, not just first-time buyers, can use.
First-time homebuyers in Ontario save on mortgage payments with this incentive. It pays 5% or 10% of the property's cost, which the homeowner must repay within 25 years. First-time buyers who take advantage of this incentive will save a lot when their mortgage is paid off. Remember to review the qualifying requirements beforehand, as they can be strict. Contact our first-time home buyer agent.
Each program for first-time home buyers in Ontario, Canada, comes with its own set of requirements and guidelines. In order to utilize it, you have to meet the requirements, which are identical across programs in terms of age, citizenship status, and other things. Examples of such programs are the RRSP Home Buyer’s Plan and the First Time Home Buyers’ Tax Credit, both of which have similar criteria:
Acquiring this knowledge will put you in a better position to take the necessary actions to gradually enhance your credit.
To qualify, you must meet these criteria:
Meeting these conditions makes you eligible for tax credits and rebates.
The amount you need for a down payment depends on your home’s purchase price:
If your down payment is less than 20%, you must get mortgage default insurance (CMHC insurance).
Start by talking to our first-time home buyer broker. Our job is to assist you throughout. To guarantee you are ready to become a homeowner, prequalify your application. Based on our combined efforts, we can help you narrow your home prospect focus by understanding your purchasing power.
The definition of a first-time home buyer may vary per program. For example, the first-time homebuyer incentive requires only one applicant to be a first-time homebuyer in Ontario. The home purchaser plan considers first-time home buyers who haven’t purchased a home in four years. The land transfer tax refund applies to first-time homebuyers who have never owned a house anywhere.
You should be pre-approved before house hunting. A pre-approval will tell you how much home you can afford and your interest rate and show real estate agents and sellers that you’re serious.
Mortgage Agent Level 1
Ontario Brokerage Licence: #10428
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Haris Paracha is a Mortgage Agent Level 1 with Mortgage Intelligence, helping clients across Ontario find personalized mortgage solutions with access to 50+ trusted lenders.
Mortgage Agent Level 1
Ontario Brokerage Licence #10428
Haris Paracha is a Mortgage Agent Level 1 licensed in Ontario and authorized to deal and trade in mortgages on behalf of Mortgage Intelligence, Brokerage Licence #10428. The information provided on this website is for general information purposes only and does not constitute financial or legal advice. Terms, conditions and lending criteria apply.