First-Time Home Buyer Incentive

14 March 2019
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14 March 2019, Comments 0

First-Time Home Buyer Incentive helps people across Canada purchase their first home. It allows first time buyer to borrow 5 or 10 % of the purchase price of a home to put toward a down payment. This addition to your down payment lowers your mortgage carrying costs, making homeownership more affordable.  You pay back the same percentage of the value of your home when you sell it or within a 25 year window. To qualify

You have never purchased a home before

You did not occupy a home that you or your current spouse or common law partner owned in the last 4 years

You have recently experienced the breakdown of a marriage or common-law partnership (even if you don’t meet the other first-time home buyers requirements)

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