The new First-Time Home Buyer Incentive is a 3 year program offered by the Federal Government as a "Shared Equity Mortgage", with the Federal Government being your partner.
This website help to determine your eligibility, calculate your maximum purchase price, and select the incentive that is right for you.The incentive allows eligible first-time home buyers, who have the minimum down payment for an insured mortgage, to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada. Essentially, the incentive helps qualified first-time home buyers reduce their monthly mortgage carrying costs without adding to their financial burdens.
-Lower Monthly Mortgage Payments
-Interest-free Incentive Program
-No Pre-payment Penalty
-Newly Constructed Homes eligible for 5% or 10%
-Existing Homes eligible for 5%
For mortgage advice, contact an experienced mortgage professional:
Linda Fleming, AMP
Accredited Mortgage Professional
Dominion Lending Centres - A Better Way
201-2600 Gladys Ave., Abbotsford, BC V2S 0E9
Toll Free: 1-877-304-5656