People have been asking me about the mortgage changes coming January 2018. Basically means the bank will qualify you for less, about $100,000 to $175,000 less based on your income. This will probably start MID DECEMBER. Now is the time to purchase or sell, if you're concerned
Showing posts with label affordable housing. Show all posts
Showing posts with label affordable housing. Show all posts
Thursday, November 16, 2017
Thursday, January 8, 2015
Heritage Property Tax Rebate Program for the City Of Toronto
Heritage Property Tax Rebate Program
January 7, 2015 -- The City of Toronto offers a Heritage Property Tax Rebate Program to assist owners of heritage properties with the cost of maintenance and conservation.
The program is currently in transition due to staff recommendations that were adopted by Council on July 8, 2014.
Only properties that received a Heritage Property Tax Rebate for any of the 2010, 2011, 2012 or 2013 tax years may apply for the 2014 tax year. Their applications will be processed under the program as previously administered. These applications must be completed, submitted with all required information, and received by 4:30 P.M. EST, Friday, February 27, 2015 to be considered.
New for 2015, eligible properties must be classified commercial and industrial, where a minimum of 50% of the current value assessment (CVA) is attributable to commercial or industrial taxes. Other conditions and requirements apply. Properties that are not eligible for the tax rebate program may be eligible to apply to the Toronto Heritage Grant Program.
Should you have questions about the Toronto Heritage Property Tax Rebate Program, you can contact Gary Miedema from Toronto’s Heritage Preservation Services directly at gmiedem@toronto.ca or (416) 338-3278.
January 7, 2015 -- The City of Toronto offers a Heritage Property Tax Rebate Program to assist owners of heritage properties with the cost of maintenance and conservation.
The program is currently in transition due to staff recommendations that were adopted by Council on July 8, 2014.
Only properties that received a Heritage Property Tax Rebate for any of the 2010, 2011, 2012 or 2013 tax years may apply for the 2014 tax year. Their applications will be processed under the program as previously administered. These applications must be completed, submitted with all required information, and received by 4:30 P.M. EST, Friday, February 27, 2015 to be considered.
New for 2015, eligible properties must be classified commercial and industrial, where a minimum of 50% of the current value assessment (CVA) is attributable to commercial or industrial taxes. Other conditions and requirements apply. Properties that are not eligible for the tax rebate program may be eligible to apply to the Toronto Heritage Grant Program.
Should you have questions about the Toronto Heritage Property Tax Rebate Program, you can contact Gary Miedema from Toronto’s Heritage Preservation Services directly at gmiedem@toronto.ca or (416) 338-3278.
FREE DOWNPAYMENTS in Peel Region
FREE DOWNPAYMENT: The Region of Peel might once again be offering free downpayments to qualified applicants for 2015.
What is the Home in Peel Affordable Ownership Program?
The Home in Peel Affordable Ownership Program is designed to provide low-to-moderate income residents who are currently renting a unit in the Region of Peel (Brampton, Caledon or Mississauga) the opportunity to qualify for down payment loan assistance to buy a home in Peel Region.
This program will assist eligible applicants who have a total gross (pre-tax) household income of $80,000 or less to purchase a resale home in the Region of Peel that does not exceed a purchase price of $295,000.
Participant Eligibility
Applicants must be 18 years of age or older
Applicants must be a Canadian citizen or have permanent resident status
Applicants must not own or have an interest in another residential property in Canada or elsewhere
The home must be the sole and principal residence of the purchaser
The applicant must currently be renting in Peel and looking to buy a sole and principal residence
The applicant must have a total gross (pre-tax) household income not exceeding $80,000
The applicant must be able to obtain a mortgage pre-approval from a bank/lender that is approved and insured by a mortgage default insurer such as Canada Mortgage and Housing Corporation (CMHC) and must submit it with their application
Participants may not include anticipated rental income from a portion of the property in order to obtain a mortgage
The applicant must be able to pay all additional closing costs
The applicant must supply all necessary documentation to the Region of Peel within the required timeframe
What is the Home in Peel Affordable Ownership Program?
The Home in Peel Affordable Ownership Program is designed to provide low-to-moderate income residents who are currently renting a unit in the Region of Peel (Brampton, Caledon or Mississauga) the opportunity to qualify for down payment loan assistance to buy a home in Peel Region.
This program will assist eligible applicants who have a total gross (pre-tax) household income of $80,000 or less to purchase a resale home in the Region of Peel that does not exceed a purchase price of $295,000.
Participant Eligibility
Applicants must be 18 years of age or older
Applicants must be a Canadian citizen or have permanent resident status
Applicants must not own or have an interest in another residential property in Canada or elsewhere
The home must be the sole and principal residence of the purchaser
The applicant must currently be renting in Peel and looking to buy a sole and principal residence
The applicant must have a total gross (pre-tax) household income not exceeding $80,000
The applicant must be able to obtain a mortgage pre-approval from a bank/lender that is approved and insured by a mortgage default insurer such as Canada Mortgage and Housing Corporation (CMHC) and must submit it with their application
Participants may not include anticipated rental income from a portion of the property in order to obtain a mortgage
The applicant must be able to pay all additional closing costs
The applicant must supply all necessary documentation to the Region of Peel within the required timeframe
http://www.peelregion.ca/housing/home-in-peel/apply/qualifications.htm
*** Currently the region is waiting for confirmation of funding to confirm that it will be available for 2015, They are expecting a response around March, it is on a first come first served basis, so interested parties need to be constantly looking at the web site.
Subscribe to:
Posts (Atom)