Metis-Nation of Saskatchewan First Time Home Buyers Program
The Metis Nation of Saskatchewan has created a First Time Home Buyer Program for Metis citizens in Saskatchewan. It is a one-time secondary grant to provide help with the down payment and closing costs connected with buying their first home. In staying with our theme of down payment options we present the ins and outs of the MN-S FTHB Grant.
MN-S are offering $15,000 towards down payment of a home and $2500 towards the closing costs. This is to assist Metis people get into home ownership, something we strongly believe everyone should have the opportunity to do. In Canada, you need 5% of the purchase price as down payment as a minimum, as we noted here, not all of those funds have to come from savings. If Metis citizens are purchasing a home for $400,000 for example, $20,000.00 would be needed towards the down payment. Using the MN-S FTHB grant of $15,000.00 that citizen would only need to come up with $5,000.00 of their own resources.
Few stipulations:
- Must be 18 years of age or older
- ID and Copy of MN-S Registered Metis Citizenship Card/Confirmation from MN-S Registry of Metis citizenship approval
- Must approve for the mortgage (where we come into play)
- Must not have owned a home within the last four years
- No income taxes owing
- Must be your primary residence for the next 5 years
- Household income must be less than $150k annually
If you live in the property for five years the grant is forgiven! It is a great program and an amazing opportunity for Metis Nation of Saskatchewan citizens to get into home ownership.
Any questions on the Metis Nation of Saskatchewan First Time Home Buyer Grant or on home ownership please contact us today!