Are You a First Time Buyer? Would You Like to Know More About Canada's First Time Homebuyer Incentive?
April 18, 2021 | Posted by: Donna van Lier-Grieve
The new First-Time Home Buyer Incentive allows eligible first-time homebuyers, who have the minimum downpayment for an insured mortgage, to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada.
HOW IT WORKS:
• Lower Monthly Mortgage Payments
• Interest-free Incentive Program
• No Pre-payment Penalty
• Newly Constructed Homes eligible for 5% or 10%
• Existing Homes eligible for 5%