We contacted Stephanie for help in our remortgage of our home. Never used a broker before but lately unhappy with our bank and their rates. We decided to try a mortgage broker. Stephanie did a fantastic job with less hassle then the bank. She made it so easy. Got us great rates, met with us when it was convenient for us (no banker hours). Very professional and hard working. Overall excellent service!!!
This 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.