Mortgage Blog
Shut the Front Door on your First Home today!
January 20, 2023 | Posted by: Sharon Patton
Are you a first-time homebuyer? Or do you know someone looking to purchase their first home? We may have a solution to help you Shut the Front Door on your first home today.
Let's take a look below at our 3-step maneuver to help you get your down payment immediately.
**Based on the purchase price of $500,00 with only $5,000 saved for a shortfall of $20,000**
Take an RRSP loan or line of credit for $20,000 OR a gift from Mom and Dad.
Before the end of February, put the $20,000.00 loan/line of credit/gift money into an RRSP.
Purchase a home!
Use the $20,000 in your RRSP as your down payment.
Take a 3% cash-back mortgage option with 2 of my top-tier lenders.
Use 3% cash back + your income tax refund to pay off your loan on closing day.
$15,000 + $ 5,000 = $20,000
(cashback) (tax refund) (pay off loan)
It’s as easy as 1, 2, 3!!!!
If you are a first-time home buyer or know someone who is looking to get a down payment immediately let's chat. We will work with you to Shut the Front Door on your first home today!
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