Explore the Metis Nation of Saskatchewan’s First Time Home Buyer Program (FTHBP) and discover how eligible Métis citizens can overcome financial barriers to achieve their dream of homeownership. Find out about the program’s financial support, eligibility requirements, eligible homes, and conditions. Get started on your homeownership journey today!
Introduction:
Are you a Métis citizen in Saskatchewan looking to make your dream of homeownership a reality? Look no further than the Metis Nation of Saskatchewan First Time Home Buyer Program (FTHBP). This program is designed to assist eligible Métis citizens in overcoming financial obstacles and obtaining their first home. Whether you’re starting out or escaping abusive situations, this program is here to support you.
Financial Support:
The FTHBP provides invaluable financial contributions to qualified applicants. With up to $15,000 towards your down payment and up to $2,500 to cover closing costs, you can significantly reduce the upfront expenses associated with purchasing your first home. Don’t let financial constraints hold you back from homeownership.
Eligibility Requirements:
To be eligible for the FTHBP, there are specific criteria you must meet. You need to be at least 18 years old, have been a resident of Saskatchewan for a minimum of six months, and hold Métis Nation-Saskatchewan (MN-S) citizenship or have a confirmation letter for your citizenship card. Additionally, the home you’re purchasing must be your primary residence for at least ten years, and you must qualify for a mortgage from a recognized financial institution. If your family’s annual gross income (pre-tax) is below $150,000, you may qualify for priority consideration, particularly if you currently reside in social housing or are escaping abusive or violent situations.
Eligible Homes:
The FTHBP covers a wide range of eligible homes to suit your preferences and needs. You can choose from newly constructed homes with a new home warranty, resale market homes (such as single-family, side-by-side, townhouses, condominiums, and multi-unit dwellings), ready-to-move homes (RTMs) on permanent foundations, and mobile homes on owned lots with a permanent foundation. However, ensure that the purchase price of the home does not exceed the maximum limit for your geographic area. Remember, eligible homes must be on titled land within Saskatchewan.
Program Conditions:
To ensure responsible use of funds and promote long-term residency, the FTHBP program imposes certain conditions. All funds provided by the program are sent “in trust” to a lawyer’s office, where they are applied towards the purchase of the home and associated costs. Additionally, a 10-year second mortgage is registered against the property, reinforcing the commitment to reside in the home for the specified duration. After ten years, the FTHBP mortgage is forgiven and discharged, allowing you to enjoy the benefits of homeownership without the burden of additional debt.
Get Started Today!
Don’t let financial barriers hinder your dream of homeownership. Explore the opportunities provided by the Metis Nation of Saskatchewan First Time Home Buyer Program. Visit https://metisnationsk.com/wp-content/uploads/2020/11/20MNS-FTHB_OneSheet-Revised-Nov-2020.pdf to access the program’s official document and find detailed information about the program. You can also reach out to mortgage experts through https://ronqmortgage.ca/ who can guide you through the process.
Make your homeownership dreams a reality with the Metis Nation of Saskatchewan First Time Home Buyer Program. Take the first step towards securing a place to call your own. Act now!