Peterborough Homeowner Ownership Assistance Program – 2017

The City of Peterborough have confirmed that they are planning on offering the Homeownership Assistance Loan Program again this year – it is set to open in April.

MULTIPLE OFFER INSPECTION (15).png

If you wish to apply, you should look to get things in place now.  The information below is taken directly from the City of Peterborough website.

Homeownership Assistance Loan Program

This program aims to help eligible renters buy a home in the City or County of Peterborough. The application process for the Homeownership Assistance Loan Program is currently closed. We plan on offering the program again in April 2017. Applications will be made available at that time.

If you are thinking of applying in April, you can do a few things to prepare:

  • Get written mortgage pre-approval from a CMHC approved lender;
  • File your 2016 income tax return (make copies of 2016 T1 General or 2016 Notice of Assessment);
  • Make copies of two pieces of government issued identification (to verify your status in Canada and that you are at least 18 years old) – one piece must be photo ID;
  • Get written verification that you are currently renting;
  • Review the information at CMHC’s Home Buyer education website; and 
  • Keep checking this website or call 705-742-7777 extension 4663 (HOME) for updates.

If there are multiple adults in your household, please prepare copies of their identification and 2016 T1 General/Notice of Assessment to verify status in Canada, age, and total household income.

There is no waiting list for this program. Subject to availability, loans are offered on a first-come, first serve basis. The Program ends when funding has been allocated, or December 1. Program updates for 2017 will be uploaded when available.

Note: Funds have been provided by the Government of Canada and the Province of Ontario. 

One of the previous requirements for this program was that the home you wished to purchase had to be inspected by a professional home inspector.  

If you do apply and are accepted under this program, be sure to contact us to book your County Home Inspection.  

You can contact us at 705 957 3642 or david@countyhomeinspection.ca

Advertisements

Four Things Smart First-Time Buyers Do.

Thanks to Lifehack for this great article – the original of which can be viewed here.

Thinking about buying your first home? That’s exciting!

The thing that surprises most first-time buyers is the sheer number of things that need to happen in order to find, fund, and finally move into a new home. There’s a lot that goes into the process. Sure, you’ll be working with a mortgage loan officer and real estate agent, and it’s their job to be an all-around Sherpa, guiding you along the way. They’ll help you navigate all the steps.

705 957 3642countyhomeinspection.ca (1).png

However, there are four key items first-time home buyers should know in advance. The following four tips deserve the most attention and will help make sure you have a great home-buying experience.

1. Get pre-approved.

Without financing, real estate transactions simply don’t happen. Loans make the housing world go ‘round. Getting a loan pre-approval squared away before home shopping is important, as you will see below.

First, pre-approvals involve formal documentation of your credit score, credit history, income, employment, etc. Pre-approvals carry much more weight than pre-qualifications. Pre-qualifications don’t involve any formal documentation, which is why they are essentially meaningless to everyone from real estate agents to sellers.

Pre-qualifications will give you confidence.

Pre-qualifications save you time because you will know the mortgage amount for which you qualify. You will shop faster and smarter by searching for homes you can afford. You’ll get better service from real estate agents. In fact, many agents insist that their clients are pre-approved. Everyone involved in this transaction deserves to know that their efforts are leading toward a tangible outcome.

Continuing with that thought, sellers may not let home shoppers view their home without a pre-approval. Furthermore, when you make an offer on a home, sellers will take a pre-approved buyer seriously.

 

2. Search with focus.

There’s never been a better time — in terms of efficiency — to shop for a home. Online searches, using tools like Zillow or Redfin, are fast and easy. And you can stay focused on properties you are likelier to acquire when you know your pre-approved loan amount.

After searching for a while, you’ll want to narrow your choices and pick homes to view in person. This the time to leverage you real estate agent’s understanding of the surrounding area. Their input on schools and neighborhoods is invaluable. Modern technology, combined with your agent’s knowledge of the area, will help you determine the short list of homes to visit.

3. Keep your emotions in check.

Stuff happens. Real estate deals can go sideways for a number of reasons, including:

  • Offers rejected by sellers
  • Negotiations wind up going nowhere
  • Appraisals come in too low
  • Lenders need additional documentation
  • Home inspections reveal major issues with the property

A lot of these things are outside of a buyer’s control. This is why keeping emotions in check is important. Going back to the search phase above, having several homes on your short list can prevent buyers from fixating on just one property. Having choices helps reduce the potential for an emotional roller coaster.

4. Don’t skip the home inspection.

Getting a home inspection before finalizing a deal is important. Surely you’d prefer not to have buyer’s remorse. Don’t skip this step, even if you’re planning on buying and rehabbing a fixer-upper home.

While all purchase transactions will require a property appraisal, some mortgage programs do not require an inspection. An appraisal will tell you and your lender what the home is worth, but an inspection will tell you if it needs any repairs.

There’s pretty good chance an inspector will find some imperfections in the home you want to buy. The good news here is that inspections:

  • Identify issues with the property
  • Come from a neutral third-party
  • Help create space for you and your Realtor to negotiate with the seller

Asking a seller to fix something before you buy it or come down on the price is pretty typical after an inspection. More importantly, you’ll know what you are buying so the chance of any surprises is very small. The idea here is to prevent you from encountering unforeseen expenses after moving in.

Tony Mariotti is the author of this article and you can find out more information on him here.

Sell it Saturday!

The sun is out and Spring is in the air!  What better time to head out and hit up some open houses and find your new home!

Click on the listing information below to take you directly to the listing agent’s website so you can find out all the details about the open house and your dream home!

2040 Meadowview Road, Peterborough

2040 Meadowview Road, Peterborough is listed at $294,900 by Mark McCullough from Flat Rate Realty.

 The open house takes place on Saturday 16th April between 12.00pm & 1.30pm.

3042 Westridge Blvd, Peterborough.jpg

3042 Westridge Blvd, Peterborough is listed at $330,000 by Lorrie Tom from RE/MAX Eastern.

The open house takes place on Saturday 16th April between 12.30pm & 2.00pm.

137 Farrier Crescent, Peterborough

137 Farrier Crescent, Peterborough is listed at $385,000 by Krista Costa from Century 21 United.

The open house takes place on Saturday 16th April between 2.00pm & 3.30pm.

430 Edison Avenue, Peterborough.jpg

430 Edison Avenue, Peterborough is listed at $206,000 by Kristi Doyle from Exit Realty Liftlock.

The open house takes place on Saturday 16th April between 1.00pm & 3.00pm.

Be sure to check out MLS for lots more open houses and remember, once you make an offer on your dream home, contact us to book your County Home Inspection!

What’s New Wednesday – 5th April 2016

It’s Wednesday!  So what better day to take a quick look at some properties listed in our service area over the last 7 days.

Click on the listing information below to take you directly to the listing agent’s website so you can find out all the details about your dream home!

575 Maniece Avenue, Peterborough

575 Maniece Avenue Peterborough is listed at $469,900 by Cathy Burningham from Royal LePage Parkway, Peterborough.

1195 Buxton Road, Wilberforce.jpg

1195 Buxton Road, Wilberforce is listed at $259,900 by Darlene Reil from Bowes & Cocks, Wilberforce.

185 Bass Lake Road, Trent Lakes

185 Bass Lake Road, Trent Lakes is listed at $1,200,000 by Cathy Hopkins-Poole from RE/MAX All Stars, Bobcaygeon.

603 Cunningham Crescent, Cobourg

603 Cunningham Crescent, Cobourg is listed at $120,000 by Sheila Drew from RE/MAX Lakeshore Realty, Cobourg.

Be sure to check out MLS for lots more recent listings and remember, once you make an offer on your dream home, contact us to book your County Home Inspection!

What’s New Wednesday – 16th March 2016

It’s Wednesday!  So what better day to take a quick look at some properties listed in our service area over the last 7 days.

Click on the listing information below to take you directly to the listing agent’s website so you can find out all the details about your dream home!

250 Euclid Avenue, Peterborough

250 Euclid Avenue, Peterborough is listed at $224,900 by Shannon Linton from Exit Realty Liftlock, Peterborough.

68 Colborne Street Lindsay

68 Colborne Street West, Lindsay is listed at $209,900 by Ron Williams from Century 21 Pinnacle Realty, Lindsay.

13 River Street, Campbellford

113 River Street, Campbellford is listed at $349,900 by John Boyle from RE/MAX Eastern Realty, Campbellford.

10110 County Road 2, Haldimand.jpg

10110 County Road 2, Haldimand is listed at $569,900 by Derek Friedrich from Royal LePage ProAlliance, Cobourg.

Be sure to check out MLS for lots more recent listings and remember, once you make an offer on your dream home, contact us to book your County Home Inspection!

What’s New Wednesday – 2nd March 2016

It’s Wednesday!  So what better day to take a quick look at some properties listed in our service area over the last 7 days.

Click on the listing information below to take you directly to the listing agent’s website so you can find out all the details about your dream home!

886 Orchard Crescent, Peterborough

886 Orchard Crescent, Peterborough is listed at $374,900 by Krista Costa from Century21 United, Peterborough.

4 Ellen Street, Port Hope

4 Ellen Street, Port Hope is listed at $399,000 by Lee Caswell from Royal LePage ProAlliance, Cobourg.

288 McFadden Road, North Kawartha

288 McFadden Road, North Kawartha is listed at $265,000 by Jill Price from RE/MAX Rouge River.

28 George Street East, Havelock.jpg

28 George Street East, Havelock is listed at $119,900 by J J Hudson & Tanya Drain from RE/MAX Eastern Realty, Peterborough.

Be sure to check out MLS for lots more recent listings and remember, once you make an offer on your dream home, contact us to book your County Home Inspection!

What’s New Wednesday -17th February 2016

It’s Wednesday!  So what better day to take a quick look at some properties listed in our service area over the last 7 days.  Click on the listing information below to take you directly to the listing agent’s website so you can find out all the details about your dream home!

1635 Beardsmore Road Cavan

1635 Beardsmore Road, Cavan is listed at $849,900 by Ryan Murray & Cole Murray from Century 21 United in Peterborough.

15 Victoria Street South Port Hope

15 Victoria Street South, Port Hope is listed at $424,900 by Lee Caswell from Royal LePage ProAlliance in Cobourg.

26 Ports Drive Bobcaygeon

26 Ports Drive, Bobcaygeon is listed at $424,900 by Tom & Wendy Hunt from Hunt 4 Dreams in Bobcaygeon.

25 Sussex Street North, Lindsay

25 Sussex Street North, Lindsay is listed at $349,900 by Cathy Barrowclough from Century 21 Pinnacle in Lindsay.

Be sure to check out MLS for lots more recent listings and remember, once you make an offer on your dream home, contact us to book your County Home Inspection!