Ontario Home Buyers

Last week's column discussed the National Home Buyer's Plan, a popular government program designed to help first-time buyers enter the housing market. RBC Virtual Visa Debits, RBC Royal Bank loan payments, RBC Royal Bank mortgage payments, pre-authorized or self-serve RBC Royal Bank credit card payments, contributions to RBC investment accounts (such as GICs, Royal Mutual Funds, Registered Savings Plans, Registered Education Savings Plans, Registered Disability Savings Plans and Tax-Free Savings Accounts) and electronic self-serve fund transfers from your savings account to any account in your name are free of charge.
Research mortgage down payment options: If you have less than a 20% down payment, you're required to get extra insurance through the Canada Mortgage & Housing Corporation (CMHC) and Genworth Canada You can use your RRSP towards your down payment under the Home Buyers' Plan.



Lowering the interest rate on Canada Student Loans and making the grace period interest-free will help approximately 1 million student loan borrowers currently in repayment, including Angela, who recently graduated from university with a bachelor's degree in psychology.
Saving enough for a down payment on a home and managing the monthly costs of homeownership can be challenging—especially for first-time home buyers, many of whom are trying to establish or advance their careers, raise young families, or even relocate to a new community.

RBC Virtual Visa Debits, Third-party payment Debits, RBC Royal Bank loan payments, RBC Royal Bank mortgage payments, pre-authorized and self-serve RBC Royal Bank credit card payments and contributions to RBC investment accounts (such as GICs, Royal Mutual Funds, Registered Savings Plans, Registered Education Savings Plans, Registered Disability Savings Plans and Tax-Free Savings Accounts) from your RBC Day to Day Banking Account, U.S. Personal Account, Leo's Young Savers Account or RBC Student Banking Account are free of charge.
This grant proposed that a 15% credit be applied to an amount of $5,000, and would provide up to $750 in tax relief to reduce the costs Home Buyers Ontario associated with first home purchases, to assist first-time buyers with the costs related to legal fees, land transfer tax, etc.

The Green Party would eliminate the first-time home buyer's grant , saying in its platform the grant (exacerbates) housing speculation and commodification,” while investing in home builds and rent relief - measures that could, hypothetically, help first-time buyers.