Sentences with phrase «purchased as your principal residence»

Buyers must live in the property they purchase as their principal residence.

Only properties purchased as your principal residence qualify for the program.

The results also show 94 per cent of buyers intending to use their purchase as a principal residence and 39 per cent were buying a retirement home.

Not exact matches

As an example, a cap of $ 500,000 in tax - free capital gains on any principal residence means that a home sold for $ 1 million that was purchased for $ 100,000 in 1985 say, would have $ 400,000 taxed at the owner's tax rate at the time of the sale (about 35 % for the average middle class Canadian).

For home purchases, in order to obtain a VA loan, you must certify that you intend to occupy the home as your principal residence.

I have no problem with buying a big home: while described as «massive,» a $ 515,000 principal residence is hardly an egregious purchase these days.

If you don't have the full purchase price in cash, you'll need financing which is more complicated than a principal residence because lenders see them as higher risk.

As of August 18, 2017, Fannie Mae allows lenders to receive a Property Inspection Waiver (PIW) on certain one - unit principal residence and second home purchase transactions with loan to value ratios up to 80 %, rather than a tradition in - person appraisal.

Additionally, this tax credit does not have to be repaid unless the home is sold or is not used as the buyer's principal residence within 3 years after the initial purchase.

For home purchases, in order to obtain a VA loan, you must certify that you intend to occupy the home as your principal residence.

One of the most popular is the ability to use up to $ 10,000 toward purchasing your first home (or any home, regardless of whether it's your first, as long as you haven't owned a principal residence in two years).

As an example, a cap of $ 500,000 in tax - free capital gains on any principal residence means that a home sold for $ 1 million that was purchased for $ 100,000 in 1985 say, would have $ 400,000 taxed at the owner's tax rate at the time of the sale (about 35 % for the average middle class Canadian).

whether the home is intended to be occupied by the person who purchases or acquires the land, or their family member (s), as their principal residence;

These provisions create (1) an non-immigrant Canadian retiree visa that would allow Canadians 55 years and older who have a rental agreement for lodging or own a US home in the US to stay as long as 240 days each year, and (2) an non-immigrant retiree visa for foreign nationals 55 years of age or older who purchase a principal residence (or a personal residence plus other residential properties) valued at $ 500,000 or more and who agree to stay in the US for a period of not less than 180 days per year.

You qualify under the tax rules as long as you (or your spouse) did not own a principal residence at any time during the two years prior to the purchase of the new home.

Land Transfer Tax Credit (Ontario): For Ontario residents, you can claim up to $ 2,000 if you are purchasing a home as a principal residence as long as you and your spouse or common - law partner has never owned a home, or an interest in a home, anywhere in the world.

If you are a first - time buyer (you haven't owned a home as your principal residence in three years) or a military veteran, you may qualify for a tax credit up to $ 2,000 per year if you apply and are approved for a Mortgage Credit Certificate prior to your home purchase.

Note: Borrowers are not eligible for a new FHA - insured mortgage if they pursued a short - sale agreement on their principal residence simply to take advantage of declining market conditions to purchase a similar or superior property within a reasonable commuting distance at a reduced price, as compared with current market value.

Fifty - five per cent would be willing to make compromises with regards to their financial or lifestyle choices, such as purchasing a property with family and friends, renting out their cottage, making a cottage their primary residence, buying a fixer - upper or moving into a smaller principal home in the city.

Liddiard called the bills an overall assault on housing as they limit or exclude gains on sales of principal residences, and repeal the deduction of student loan interest, which will make it more difficult for millennial buyers to purchase their first homes.