What is the first time home buyer incentive in Canada?

Back to learn

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.

Recent Articles

The Canada Worker Lockdown Benefit and You

Tax season 101: What you need to know

Can international students get a bank loan in Canada?

Is there a consumer financial protection bureau in Canada?

Are Canadian bank accounts insured?

Is there a tax credit if you buy a home?

Related articles

Is there a tax credit if you buy a home?

5 mins

Dan Bucherer

Hopping on the post-pandemic housing surge? Make sure you take advantage of these tax credits!

Is there a tax credit if you buy a home?

5 mins

Dan Bucherer

Hopping on the post-pandemic housing surge? Make sure you take advantage of these tax credits!

#first time home buyer incentive

#first time home buyer

#home buyer incentive

#home ownership

#tax credit

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Visa* Prepaid card is issued by Peoples Trust Company pursuant to license by Visa Int. *Trademark of Visa Int., used under license. **These services are provided by Service Providers, including Visa, Peoples Trust Company and Galileo Processing. Learn more about your finances with Visa Practical Money Skills.