This Government incentive which was introduced in 2019 is coming to an end, sadly it did not help most home buyers as they did not meet the program qualifications. The Canadian Mortgage and Housing Corporation (CMHC), a federal national housing agency, has ceased offering its down payment incentive for first-time...
Category: FTHB
Understanding the FHSA – First Home Savings Account
Securing a place to call your own is a dream that's becoming more attainable, even in the face of rising housing costs, inflation, and higher interest rates. The First Home Savings Account (FHSA) has emerged as a beacon of hope for prospective first-time homebuyers. This innovative tax-free registered plan empowers...
Understanding the new First-Time Home Buyer Incentive (FTHBI)
As of September 2nd 2019, the new FTHBI has launched and is now in effect. Here is a summary of key points: The closing date must be on or after November 1st, 2019.You must have at least 5% down payment from own resources, gifts are acceptable.Qualifying income cannot exceed $120,000...