Family Assist Program

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Family Assist Program

family assist program - leduc mortgage broker - gotobrokersThis program is designed to assist families who want to lend a hand to their family members in buying a home for them to live in.

The Family Assist Program can be used with a minimum of 5% down.

Some Great Questions:

I own a home; can I still use the Family Assist Program to help a family member with minimal down?

Yes, you sure can. We understand that you may have just bought a home or have owned a home for years when the need to help someone occurs. You will not be penalized.

My home is CMCH insured and I only put 5% down, can I use the program?

Absolutely, under the Family Assist Program, you can have another property insured with the insurers, CMHC, SEGAN or Canadian Guarantee.

Can I rent a Family Assist Program to someone?

No, you cannot rent the home as these properties are not for profit but for housing of a family member.

Do I have to add my family member to the application for the Family Assist Program?

No, they will not be required to be on title as this mortgage will qualify under the use of your name and credentials.

Will I be able to use the Family Assist Program at tax time as a capital gains or capital loss property?

No, you will not be able to, as the property under the Family Assist Program is exempt, similar to your primary residence.

Can I use the Family Assist Program to help a few family members?

Yes, you can use this program more than once. If your income and debts qualify, we can process this for you. There are no limits to the amount of homes you can purchase under this program.

How do I get started and apply for the Family Assist Program?

Call our office and we will pre-qualify you. We will go over all the steps to get started. We have many clients who use this program who are pleased with the results. We look forward to speaking with you and answering your questions.

family assist program - leduc mortgage brokers - gotobrokers jeep

Highly Recommended

Find out why hundreds of others choose GoToBrokers as their Alberta mortgage broker of choice.

Highly recommend Stephanie. Amazing service. She kept us in the loop throughout the process and took the time to answer all/any questions.

Denise C

We worked with Stephanie Lopushinsky with Dominion Lending for our most recent home purchase and could not recommend her enough, she helped us through all aspects of our purchase and was there to help and answer questions even before we asked. She was a tremendous help and anyone who uses her services will be very great full and lucky. Do yourself a favor and get in touch with Stephanie on your next home purchase.

M Silver

My husband and I have recommended Stephanie Lopushinsky to everyone we know because she is so knowledgeable and wonderful to work with! She truly went above and beyond to guide us through every step of obtaining our mortgage for our first home!

Julia K

Buying a home is likely one of the single largest purchases you will make in your lifetime. It is also an investment in your family’s financial future – an investment that needs to be protected.