Article provided by: The Mortgage Planners
The Mortgage Planners makes it easy for an RRSP first time home buyer in Edmonton to get access to low-interest funding in four easy steps. Buying a home may be the most expensive purchase you ever make- but it doesn’t have to be the most complicated one. Give us a call to get the process underway or fill out our online application to get started.
Accessing Your RRSP
Did you know that first time home buyers can use a portion of their RRSP savings to help finance the down payment for their home? Certain limitations apply, but the average couple can use up to $50,000 to build or buy a qualifying home.
You’ll have to pay the money back, but you’ll have 15 years to do so- and you won’t have to pay income tax on the money, provided you pay it back within the allotted time frame. Speak with a Mortgage Planners agent to learn more about the benefits of using your RRSP.
Our Signature 4 Step Process
- It takes only 5 minutes to apply for a loan. If you need help along the way, call us, and we’ll walk you through the process.
- Your Mortgage Agent will review your application and let you know if we need any additional information from you. Before approving your application, your agent may ask you specific questions, such as what your particular needs are.
- Once your loan is approved, your agent will send you the good news, along with documents for you to sign.
- When the loan is complete, you’ll schedule a meeting with your lawyer to complete the paperwork and register your loan. That’s all there is to it!
We Work For You
Our firm does not work for any of the lending institutions in our network’ in fact, we serve as intermediaries, in search of the best rates and terms for your needs. If you qualify as an RRSP first time home buyer in Edmonton, we’ll help you find the right lender for your purchase or new construction needs.
Mortgage experts will confirm that choosing the wrong brokers can cost you thousands of dollars. Our agents are trained and committed to saving you money by doing all the legwork for you. Rather than personally calling around to find a great rate, we’ll reach deep into our network of lending partners and find one that can provide a loan package that suits your situation.
Considerations Before Borrowing From Your RRSP
Becoming an RRSP first time home buyer in Edmonton is the right choice for many of our clients- but it’s certainly not a one-size-fits-all solution to getting a loan. After discussing your objectives, if our agents determine you’re a good candidate to borrow from your RRSP, we’ll help you take the first steps in accessing your money.
Feel free to schedule a consultation with an agent from The Mortgage Planners. We can also answer questions through our contact form online. If you have questions that require immediate answers, check out our Learning Center.Rrsp First Time Home Buyer Edmonton