How the First-Time Home Buyer Incentive works

Author: External Author | Categories: Commercial Mortgage , First Time Home Buyer , First Time Home Buyer Mortgage , Life Insurance Broker , Mortgage Pre Approval , Mortgage Renewal , Mortgage Services , Refinance Mortgage , Renovation Mortgage , Reverse Mortgage

Everything you need to know about the program, from the eligibility rules to what happens if you sell your home—and potential pitfalls to look out for.

One of the hurdles standing between Canadians and their first home purchases are the hefty down payments that come with the country’s remarkably high real estate prices. The federal government knows this, and it wants to lend a hand. That’s where the First-Time Home Buyer Incentive (FTHBI) comes in.

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Original Article Source Credits: Money Sense, https://www.moneysense.ca

Article Written By: ALEX MLYNEK

Original Article Posted on: DECEMBER 14, 2021

Link to Original Article: https://www.moneysense.ca/spend/real-estate/how-the-first-time-home-buyer-incentive-works