Wednesday, October 23, 2024 / by Matthew Daniel Tamburello
HomeBuyers: The First-Time Home Buyer Incentive Makes Buying a Home in Canada Cheaper Than Ever!
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
Announced at the beginning of the year, Canada’s First-Time Home Buyer Incentive (FTHBI) is now active. This down payment incentive will make it easy for thousands of first-time homeowners to buy a home.
What is the First-Time Home Buyer Incentive (FTHBI)?
This incentive program is designed specifically for first-time homeowners in Canada. It was created with the aim of helping young people purchase a home without incurring hefty mortgage payments.
With this incentive, the government takes responsibility for 5% of your down payment for already existing Canada homes and 10% for newly built homes. This way, you can decrease your monthly mortgage payments without increasing your down payment.
If you are buying a $500,000 home, the FTHBI could help you save as much as $3,400 annually. With the down payment incentive, first-tim! ...
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
Announced at the beginning of the year, Canada’s First-Time Home Buyer Incentive (FTHBI) is now active. This down payment incentive will make it easy for thousands of first-time homeowners to buy a home.
What is the First-Time Home Buyer Incentive (FTHBI)?
This incentive program is designed specifically for first-time homeowners in Canada. It was created with the aim of helping young people purchase a home without incurring hefty mortgage payments.
With this incentive, the government takes responsibility for 5% of your down payment for already existing Canada homes and 10% for newly built homes. This way, you can decrease your monthly mortgage payments without increasing your down payment.
If you are buying a $500,000 home, the FTHBI could help you save as much as $3,400 annually. With the down payment incentive, first-tim! ...
