First Time Homebuyer incentive
The new First-Time Home Buy Incentive allows eligible first-time homebuyers, who have the minimum downpayment for an insured mortgage, to apply to finanace a portion of their home purchase through a form of shared equity mortgage with the Government of Canada.
- Lower monthly mortgage payments
- Interest-free incentive program
- No pre-payment penalty
- Newly constructed homes eligible for 5% or 10%
- Exisiting homes eligible for 5%