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Wednesday, 20 August 2014

First time home buyers, what it means really!

About the Initiative

The HBTC assists first-time home buyers with the costs associated with the purchase of a home, such as legal fees, disbursements and land transfer taxes, which are a particular burden for first-time home buyers, who must also save for a down payment. The $5,000 non-refundable HBTC amount applies to qualifying homes acquired after January 27, 2009, and provides up to $750 in federal tax relief. An individual is considered a first-time home buyer if neither the individual nor the individual’s spouse or common-law partner owned and lived in another home in the year of the home purchase or in any of the four preceding calendar years. 

Who Will Benefit

First-time home buyers purchasing a home may claim the HBTC on their income tax returns, starting with the 2009 taxation year.


Our ability to provide a combination of institutional and private mortgage funds enable us to creatively fund virtually any mortgage - first mortgage, second mortgage, commercial mortgages and more. This gives our clients more opportunity to establish home ownership regardless of their credit history. Mortgage Planning is the most important component for Mortgage Brokers and we are leaders in helping create practical plans that will build your financial future. Mortgage Brokers must have the ability to not only provide you with the best mortgage rates and products, but also they must have the ability to be creative and possess problem solving skills.

Find Out More

For more information, please visit the Department of Finance Canada website or the Canada Revenue Agency website.

Wednesday, 6 August 2014

Creative solutions: short on downpayment?

When the client does not fit traditional financing, you are forced to look up private lenders for the reason to get additional second mortgage to be able to close the sale. Sometimes it fits and you can get the requested amount, but what will happen when the first mortgage condition the amount and the size of the payments on second? Nothing, client walks.
There is a new way of dealing with this, however it requires a lot of skill to convince the vendor to provide a take back and complete the purchase. What are the stipulations? We, want to earn our fees, so send us the file and we will work on it to closing and give you a generous referral fee.
Giving up on a file will bring you zero. Never give up, before you give us a chance.

We provide financing for private mortgages and loans throughout Canada for residential and commercial property (first and second mortgages), raw land, developments, construction, renovations, hotel & motel purchases, refinancing, revenue-rental property, vacation/second homes, business financing, inventory loans, factoring, invoice advance loans, business ventures, business purchase loans, equipment and inventory loans, and any and all mortgages where the collateral is real estate property. Our head office in Calgary and we are licensed in BC and AB. We have investors and brokers in other jurisdictions, whom we are referring files too. We will need an application, an explanation, and a plan with an exit strategy to consider a request. If you have been turned down by banks or have credit issues, as long as you own your home, Private Lendercan help get the funds you need.

All Private Lender Inc. and it's investors mortgages are brokered by MortgagePRO Ltd. in Calgary, Alberta