Improving Affordability: Support for First-Time Home Buyers
There is nothing more exciting (or stressful) than purchasing your first home. For many people, it is a time of adventure, but for others, it can be a little scary deciding whether or not they’re ready. The federal government wants to make homeownership more accessible and affordable for first time home buyers and to do so, is introducing the First-Time Home Buyer Incentive administered by Canada Mortgage and Housing Corp. (CMHC).
With this incentive, CMHC provides 10% of a first-time buyer’s purchase of a new build in exchange for an equity stake, allowing for smaller mortgages that will keep monthly payments lower! The incentive is available to first-time homebuyers with qualified annual incomes of $120,000 or less.
Set to launch on September 2nd, 2019, take advantage of this exciting new program and let us help you get to homeownership! Visit one of our show homes to learn more.