Are you a first-time home buyer?
The First-Time Home Buyer Incentive is a shared-equity mortgage with the Government of Canada, which offers 5% for a first-time buyer’s purchase of a resale (existing) home.
These are a few criteria to determine your eligibility for the First-Time Home Buyer Incentive:
- your total annual qualifying income doesn’t exceed $120,000 ($150,000 if the home you are purchasing is in Toronto, Vancouver, or Victoria)
- your total borrowing is no more than four times your qualifying income (4.5 times if the home you are purchasing is in Toronto, Vancouver or Victoria )
- you or your partner are a first-time homebuyer
- you are a Canadian citizen, permanent resident or non-permanent resident authorized to work in Canada
- you meet the minimum down payment requirements with traditional funds (savings, withdrawal/collapse of a Registered Retirement Savings Plan (RRSP), or a non-repayable financial gift from a relative/immediate family member)
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Email | email@example.com
Phone | 780-994-4663
Office Address | 156 St Albert Trail #10, St. Albert, AB T8N 0P5
Brokerage Address | 8 Columbia Ave W #1c, Devon, AB T9G 1Y6