What you need to know about the Canadian First-Time Home Buyer Incentive

Author: External Author | Sep 18, 2020 | Categories: Accredited Mortgage Professional , Borrowed Down Payment , First Time Home Buyer Mortgage , Home Equity Line Of Credit , Mortgage Broker , Mortgage Refinance , Mortgage Renewal , New to Canada Mortgage , Purchase Mortgage , Purchase Plus Improvement Mortgage , Real Estate Mortgage , Reverse Mortgage , Spousal Separation

The federal government launched a new national program on September 2, 2019, that it says will help thousands of families across the country buy their first home. Aptly named the First-Time Home Buyer Incentive (FTHBI), the program offers eligible buyers up to 10% of a home’s purchase price to put toward their down payment, thus lowering mortgage carrying costs and making home ownership more affordable.

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Original Article Source Credits: Money Sense , https://www.moneysense.ca/

Article Written By: TAMAR SATOV

Original Article Posted on: SEPTEMBER 6, 2019

Link to Original Article: https://www.moneysense.ca/spend/real-estate/about-canadian-first-time-home-buyer-incentive/