ZENY  MANINANG

ZENY MANINANG

Sales Representative

HomeLife/Bayview Realty Inc., Brokerage*

Mobile:
(905) 889-2200
Office:
905-889-2200
Email Me

Government Programs for Home Buyers

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Dream Home Checklist Buying the Best House Title Insurance

 

 

 

 

A home is usually the single largest investment that most people make in their lives. Achieving your dream can be made easier by taking advantage of various Government Programs for home buyers and property owners. Some of the programs are targeted to first-time buyers, while others apply more generally. Other programs benefit those in the industrial, commercial and multi-unit property market. Your REALTOR can provide information on these programs and help you to determine your eligibility.


 

CMHC Purchase Plus Improvements

According to the Mortgage Consumer Survey, 37% of mortgage consumers didn’t know their renovation costs could be added to their mortgage (up from 31% in 2018).

Canada Mortgage and Housing Corporation (CMHC) insured mortgage loans are available to cover the purchase price of a home as well as an amount to pay for immediate major renovations or other improvements that the purchaser may wish to make to the property.

This option eliminates the need to obtain secondary financing after the purchase to pay for improvements. The homebuyer obtains a single first mortgage, makes a single mortgage payment, and benefits from first mortgage interest rates.

  • Flexible advancing options for small- or large-scale improvements and new construction.
  • Insured financing up to 95% of “as-improved” value for 1 or 2 unit owner-occupied properties, and up to 90% for 3 to 4 unit owner-occupied properties.
  • Down payment requirements are based on the lending value as determined by CMHC, which is the lower of the market value or the purchase price/cost of construction.

Energy efficiency rebate

CMHC Green Home offers a premium refund up to 25% to borrowers who buy, build or renovate for energy efficiency using CMHC-insured financing.

For more information call CMHC at (416) 221-2642 or www.cmhc.ca.

EXAMPLE:

Purchase Price $100,000
Renovations/improvements costs $25,000
Total cost $125,000
 
Lending Value $125,000
Maximum Mortgage (95%) $118,750
Minimum 5% down payment $6,250


 


 

HST New Housing Rebate

Program

You may be eligible to claim a rebate for a part of the HST you pay on the purchase price or cost of building your home if:

  • You buy a new or substantially renovated home (including the land or if you lease the land) from a builder.
  • You buy a new mobile home (including a modular home) or a floating home from a builder or vendor.
  • You buy a share of capital stock of a co-operative housing corporation.
  • You construct or substantially renovate your own home, or carry out a major addition (or hire another person to do so).
  • Your home is destroyed in a fire and is subsequently rebuilt.

Details

  • Resale homes are exempt from the 6% HST.
  • New homes are subject to the 6% HST. New home buyers can apply for a 36% rebate of the 6% HST applicable to the purchase price to a maximum of $7,560 for homes costing $350,000 or less before HST.
  • For new homes priced between $350,000 and $450,000 before HST, the HST rebate would be reduced proportionately.
  • New homes priced $450,000 before HST or higher would not receive a rebate.

 

NOTE:

In the GTA, most builders include the HST in the price of the house, and any rebate would be assignable to the builder as they would be absorbing the net HST cost.


Featured Listings

15 Carisbrooke Circ,  N5392939, Aurora,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Desirable Bayview Southeast,This Exquisite Residence Featuring The Spectacular Layout W/Luxurious Finishes.High Ceilings On Main&2nd Flr.State Of Art Gourment Kit.Beautiful Centre Island&Large Windows W/Georgeous Window Coverings.Large Pool Table W/2Pc On 2nd Flr.Fantastic Entertainment For Family&Guests!Amazing Finished Huge Entertainment Area In Bsmt.Nanny&Mudrm

View 15 Carisbrooke Circ

Featured Listings

11 Lisa Cres,  N5400310, Richmond Hill,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Magnificently Renovated Home Nestled In Most Desirable Area In One Of The Best Street In Doncrest,3456 Sqf (As Per Mpac) Luxury Home Plus Prof Finished Basemen***2 Suite In Basement With Separate Entrance***Total Reno In 2016,More Than 100 Potlights,Hardwood Floor In Main & 2nd Floor,Mostly New Window,High Quality Kitchen,Granit Counter & Stone Floor,Elegant Light Fixture,S/S Appliances,Gas Stove,Iron Picket,Smooth Ceiling & Central Sound Sys In Main Floor

View 11 Lisa Cres

Featured Listings

81 Markham St,  C5231936, Toronto,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Attention Builders & Investors! Detached Legal Duplex On Rare Large Lot Adjacent To Laneway In The Heart Of Trinity Bellwoods! Bonus 30'X50' Garage With Full 8' Bsmt & Tandem Garage With Fully Fenced Property! Laneway Housing Now Allowed, Can Build Additional 2nd Floor On Garage, Or Build New Townhouse Development! Fantastic Opportunity With So Many Options! See Attached Survey For Lot Dimensions (50' At Rear)

View 81 Markham St

Featured Listings

3107 - 70 Distillery Lane,  C5391070, Toronto,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Nestled In Historic Distillery District. Rarely Offered Corner Unit W/Stunning South West Lake & City Views. This Split 2 Bedroom Plus 2 Full Ensuite Bath Offers 1070Sqf Of Interior Plus 375 Sqf Wraparound Balcony W/Endless Views. Ideal For Entertaining W/Open Concept Kitchen, Living/Dining Room W/O To Your Private Outdoor Living Space. Amenities: Concierge, Theatre, Cabanas, Rooftop Terrace & Pool. Just Steps Away From Top Restaurants, Galleries And Cafes.

View 3107 - 70 Distillery Lane

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