Mortgage & Wealth Strategies
Say Hello To The Easiest Way To Mortgage
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Beyond The Rate
As an expert mortgage broker, I know building wealth through homeownership and achieving financial freedom is about more than just chasing the lowest rate—it’s about strategy.
I'm taking you behind the scenes and giving you the insider tools and powerful strategies to get ahead. If you’re a first-time homebuyer, you’ll find everything you need to secure your first property and start building wealth from day one.
If you’re an existing homeowner, this is where you take control. Maximize the wealth-building potential of your current home with proven strategies for refinancing, leveraging equity, and optimizing your mortgage for bigger opportunities.
Your mortgage is more than a loan—it’s a gateway to long-term financial success.
My goal is simple: to equip you with the knowledge and tools to make smart, strategic decisions that will transform your financial future.
Let’s get started.
Unlock Up to $15,200 in Free Money for Your First Home
January 22, 2025 | Posted by: Matt Broom-Hall
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The secret to unlocking this incredible opportunity lies in a government initiative designed specifically for first-time homebuyers like you. Let's dive into this strategy and how it can transform your home-buying experience.
Introducing the First Home Savings Account (FHSA)
The First Home Savings Account (FHSA) is a powerful tool introduced by the Canadian government to support first-time homebuyers. Here's what you need to know:
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Contribute up to $8,000 annually towards your down payment, tax-free.
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Enjoy a lifetime contribution limit of $40,000, with significant tax advantages.
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Reduce your taxable income for each year you contribute, potentially receiving a sizable income tax refund.
This account is not just a savings tool; it's a strategic pathway to accumulating free money towards your dream home.
The FHSA Strategy in Action
To illustrate the profound impact of the FHSA, let's examine how it translates into actual savings and free cash through income tax refunds:
Federal Tax Refund Estimates
| Annual Income | Potential Tax Refund |
|---|---|
| $75,000 | $2,440 |
| $80,000 | $2,440 |
| $85,000 | $2,440 |
| $90,000 | $2,440 |
| $95,000 | $2,440 |
| $100,000 | $2,440 |
| $105,000 | $2,880 |
| $110,000 | $2,880 |
| $115,000 | $2,880 |
| $120,000 | $2,880 |
| $125,000 | $2,880 |
| $130,000 | $2,880 |
| $135,000 | $3,040 |
| $140,000 | $3,040 |
| $145,000 | $3,040 |
| $150,000 | $3,040 |
This table demonstrates the potential tax refunds you could receive by leveraging the FHSA (with a $8,000 annual contribution) based on different income levels.
Your Path to $40,000: A Closer Look
By reinvesting your tax refunds back into the FHSA, you amplify your savings. This means that you only have to contribute the full annual amount of $8,000 the first year! The following year's, you'll only need to contribute at most $5,560 to get the full annual contribution. This works out to just $107 a week - bringing home ownership within reach!
Here's how your contributions break down:
| Income | Own Funds Needed | Refund Contribution | Total Goal Achieved |
|---|---|---|---|
| $75,000 | $27,800 | $12,200 | $40,000 |
| $80,000 | $27,800 | $12,200 | $40,000 |
| $85,000 | $27,800 | $12,200 | $40,000 |
| $90,000 | $27,800 | $12,200 | $40,000 |
| $95,000 | $27,800 | $12,200 | $40,000 |
| $100,000 | $27,800 | $12,200 | $40,000 |
| $105,000 | $25,600 | $14,400 | $40,000 |
| $110,000 | $25,600 | $14,400 | $40,000 |
| $115,000 | $25,600 | $14,400 | $40,000 |
| $120,000 | $25,600 | $14,400 | $40,000 |
| $125,000 | $25,600 | $14,400 | $40,000 |
| $130,000 | $25,600 | $14,400 | $40,000 |
| $135,000 | $24,800 | $15,200 | $40,000 |
| $140,000 | $24,800 | $15,200 | $40,000 |
| $145,000 | $24,800 | $15,200 | $40,000 |
| $150,000 | $24,800 | $15,200 | $40,000 |
This strategy showcases a blend of your own funds and 'free money' from the government, propelling you towards your $40,000 goal.
More First Home Buyer Resources
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5 Tips To Improve Your Credit Score
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How to Create a Budget That Works
budgeting provides you with a roadmap to financial stability, helping you understand what you can afford, navigate common financial pitfalls...
Learn More*Calculations made using current federal and provincial income tax rates. Individual results may vary depending on your personal financial situation.