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First-Time Home Buyer Incentive

The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. There are a few qualifiers to apply for this incentive: you need to have the minimum down payment to be eligible your maximum qualifying income is no more than $120,000 your total borrowing is limited to 4 times the qualifying income If you meet these criteria, you can then apply for a 5% or 10% shared equity mortgage with the Government of Canada. A shared equity mortgage is where the government shares in the upside and downside of the property value. The First-Time Home Buyer Incentive launches September 2, 2019*. * The program wi

Kelowna June Market Statistics

See the homes that have sold in the last 30 days by clicking the links at the bottom of the email. 479 total Residential sales down 9% from 2018 of 524. Sales slowed down compared to May 2019 by 12%. 1,112 New Listings were taken. There are 3,817 total listings (up 17% from 2018, up 2% from May 2019). Median home sale price $645,000 (down 4.06% from June 2018) Median apartment condo sale price $339,000 (up 2% from June 2018) Median townhouse sale price $480,000 (up 1% from June 2018) Median mobile home sale price $150,000 (down 10% from June 2018) Activity Residential Homes 213 Sales 468 new listings Current inventory at 1,309 103 Days on the market Townhome Sales 80 sales 154 new listing

 

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