Donna on the Airwaves!

In case you missed it, I was on the Drew Marshall show on Joy 1250 on this past Saturday afternoon. Drew talked to me about the mortgage industry and, specifically, about mortgage brokering and my services. In case you did miss it, I'll be getting an audio clip to put on my website.

I also wanted to mention, another incentive to purchasing as a first time home buyer is the government's land transfer tax rebate for first time home buyers. The maximum amount of the refund is $2,000. If the refund is claimed at time of registration, it may offset the land transfer tax ordinarily payable. Hope this helps.

Have a great week!

Federal Budget - Advantages to Purchasing or Refinancing

Home, Sweet Home

The federal budget offers several measures of interest to people who plan to renovate or buy a home. Here's how they could theoretically work in unison for a first-time buyer or those considering a refinance:

Step 1: Claim the First-Time Home Buyers' Tax CreditDetails: Offers tax relief of up to $750 to first-time buyers to help defray closing costs on their purchase.

Step 2: Take advantage of changes to the federal Home Buyers' ProgramDetails: You can take up to $25,000 out of your RRSP to buy a first home and pay no taxes, up from $20,000

Step 3: Renovate your new home with help from the temporary new Home Renovation Tax CreditDetails: Claim up to $1,350 in tax relief for upgrades to your home done before Feb. 1, 2010; available to everyone, not just first-time buyers; applies to renos costing $1000 to $10,000

Step 4: Get energy efficient using the ecoEnergy Retrofit program, which was expanded in the budgetDetails: Get a grant of up to $5,000 for changes to your home that add to energy efficiency: you can also claim the home reno tax credit for these upgrades

Have a great week, everyone!