Effective August 1st, 2024, First Time Homebuyers purchasing New Construction properties are able to qualify on a 30 year amortization! This Insured offering is an exciting opportunity for First Time Homebuyers looking to alleviate the pressures of affordability.
A First Time Homebuyer is defined by meeting one of the following criteria:
- The borrower has never purchased a home before; OR
- In the last 4 years, the borrower has not occupied a home as a principal place of residence that either they themselves or their current spouse or common-law partner owned; OR
- The borrower recently experienced the breakdown of a marriage or common-law partnership.