
Canadian First Time Home Buyer Incentive 2019
Thursday Sep 26th, 2019
ShareCanadian First Time Home Buyer Incentive 2019
I've been getting a ton of calls regarding the new first time buyer incentive put out by the Federal Government this September. I've gone ahead and put together a list of key points regarding this product and quick video explaing everything you need to know. If you have any addtional questions regarding this topic or anything real estate related, please fill out the contact form at the bottom of the page. Cheers!
What is it?
The government will loan buyers 5% of the purchase price for a re-sale home, or 10% for a new one. That works out to a possible $50,000 on a new $500,000 home, or $25,000 on a $500,000 resale property. That could save you a little bit on your mortgage payment and monthly insurance premium—somewhere around $100 to $300 per month, according the federal government’s calculations.
Buyers don’t have to make ongoing payments and are not charged interest on the loan. But they do have to repay the incentive, either when they sell the house, or after 25 years—whichever comes sooner.
Do you Qualify?

Post a comment