What is the first time home buyer incentive in Canada?

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What is the first time home buyer incentive in Canada?

Rounding it up

  • The first time home buyer incentive is part of Canada’s national strategy on housing.

  • It provides the homebuyer with 5-10% of the home’s purchase price for a downpayment.

  • Homeowners enter into an equity share and have to repay the government the same percentage of the home’s value when they sell it.

  • In recent years, the program hasn’t been very popular, but it can be a powerful tool for Canadians looking to buy a home.

5 min read

Dan Bucherer
#first time home buyer incentive#home buyer incentive#home ownership#mortgage

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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