first time home buyers incentive

First-time Home Buyer Incentive

The First-Time Home Buyers Incentive is a Government program that was introduced in September 2019. This is a shared equity program - meaning that you will receive an extra 5% or 10% down payment on your home if you are a first-time homebuyer. You have to pay back the Government either 5% or 10% of the property’s market value at the time of repayment up to a maximum repayment amount.

You’re considered a first-time homebuyer if:

  • You’ve never owned a home before
  • You did not occupy a home that you or your current spouse or common-law partner owned in the last 4 years
  • You recently experienced the breakdown of a marriage or common-law partnership, even if you don't meet the other requirements.

Ask us for more details if you’re interested in this program.

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