How to take advantage of the first home savings account

Author: External Author | Categories: Commercial Mortgage , First Time Home Buyer , First Time Home Buyer Mortgage , Mortgage Agent , New to Canada Mortgage

In April, in response to Canada’s white-hot housing market, the federal government introduced the tax-free first home savings account (FHSA). The FHSA is a new kind of registered account aimed at easing the path of first-time home buyers to securing a mortgage at a time when average Canadian home prices sit at around $800,000. So, how exactly does this account work? More importantly, how can first-time home buyers leverage the FHSA to its fullest extent? 

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Original Article Source Credits:   Money Sense ,

Article Written By:  BRENNAN DOHERTY

Original Article Posted on:  MAY 9, 2022