2019 Government Incentives for Canadian First time Home Buyers

In an effort to assist Canadians enter the Canadian home ownership due to the high cost of homes in some cities, the Government introduced an incentive program. Key highlights are:
a. doubling your down payment (5% for resale properties or 10% for preconstruction)
b. reducing the amount of your debt
c. reducing your monthly mortgage
d. pay back is 25 years term
e. interest free for the term except if you sell before the end of the term
f. available for family income of $120,000 and under.

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