Getting a first time home buyer mortgage in Ajax offers certain opportunities for lower down payments and more interest and payment deferral options. Delving into buying a home as a first timer can occasionally be tricky because of poorly established credit or other issues, but there are often reduced rates and other incentives for newly-established homeowners.
Generally, a first-time homebuyer is a buyer who has not been a homeowner for the previous three years.
What documents would be needed (Canadian)
In Canada, required documents include purchase information and any agreements made between home seller and buyer, contact information for lawyers and notaries involved, proof of down payment, proof of income, and the real estate information.
Perks of being a first time home buyer in Ajax
As a first-time homebuyer, you may qualify for certain payment plans, which include plans for deferral or lowered interest. You may also be able to deduct interest payments or other fees on your taxes. Generally, there is more wiggle room in the requirements for first-time homebuyers that may make payments easier.
Ajax, located in Ontario, Canada, is a quickly-growing and –developing city that houses much of the Toronto workforce. Settled on the shores of Lake Ontario, Ajax has a busy community and significant tourist attraction in its expansive hiking and cycling trails and other nature exploration opportunities.
Granted township in 1974, the city considers itself dedicated to business expansion, encouraging citywide development while looking for ways to go green in alternative forms of transportation for its citizens. They continue to add several hundred living spaces each year.
Ajax is host to a 90-kilometer bike trail and boasts other opportunities for outdoor recreation, both along the lake and within its Greenwood Conservation Area. Greenwood, aptly named for its wooded expanse, contains Duffins Creek, which is used for fishing. Lake Ontario, meanwhile, offers the city six kilometers of land bordering the waterfront. Green initiatives remain important to the citizens, who have established a number of conservational programs, including a community garden.
The city is home to an active community and hosts many annual events such as festivals and other celebrations. It also maintains a sense of focus on art and theater as well as cultural celebration. Ajax also hosts frequent art exhibitions in the town hall and other locations.
The local government consists of a mayor and six council members. Ajax’s current mayor, Steve Parish, is the longest-serving mayor in their history, having been consistently reelected since first gaining the position in 1995. He had previously worked within the Ajax government for fifteen years previously.