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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