First Home Savings Account (FHSA)

By  Leann Scarlett |   | Posted in " #First Time Home Buyers Savings Plan, Alberta Prosperity, Alberta Proud, Alternative Mortgages, Broker Red Deer, Consolidation, Down Payment, First Time Home Buyer, First Time Home Buyers, FTHB, HOME BUYING, Home Buying 101, Home Equity Line of credit, Investment Mortgages, Metis Down Payment Assistance Program, Mortgage, Mortgage boker, Mortgage broker, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, Ponoka Mortgage Broker, RE-FINANCING, Red Deer Mortgage Broker, Refinance, RENEWING, REVERSE MORTGAGES, Rocky Mountain House Mortgage Broker, Universal Mortgage Solutions, Working with Realtors "

Here is a fantastic savings plan that the government has created. It's a hybrid of an RRSP and a TFSA, for the purpose of home ownership. What is it... here are the details... -As of April 1, 2023, financial institutions have the ability to offer the new First Time Home Buyers Tax Free Savings Account -Under the new plan, prospective first-time home buyers have the ability to save $40,000.00 on a tax-free basis -Similar to a Registered Retirement Savings Plan (RRSP), any contributions will be tax deductible -Withdrawals' from the FHSA to purchase a home are non-taxable, similar to a TFSA -The Plan includes an $8,000.00……


Are you Métis ? This Blog is For You!

By  Leann Scarlett |   | Posted in " Alberta Proud, First Time Home Buyer, Metis Down Payment Assistance Program, Mortgage broker, Ponoka Mortgage Broker, Red Deer Mortgage Broker, Rocky Mountain House Mortgage Broker "

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Did you know there is a Métis down payment assistance program. That's fact and it's back!  here are some of the details: Owning a home is now within your reach! Eligibility Criteria Must be a citizen of the Métis Nation of Alberta in good standing (at least one applicant must be an MNA citizen in good standing and their name must be on the title of said purchase). Must be gainfully employed NEW! Annual family maximum gross income of $150,000.00 Must be able to qualify for a mortgage with a major bank or financial institution  Must not own any other home currently or within the past three years. Must be 18……