We know the frustrations. We help dreamers like you make the process as easy as possible.
The Canadian government has recently launched an incentive to assist with the down payment of your first home.
You can get an additional 5% to 10% as down payment.
- 5% or 10% for a first-time buyer’s purchase of a newly constructed home
- 5% for a first-time buyer’s purchase of a resale (existing) home
- 5% for a first-time buyer’s purchase of a new or resale mobile/manufactured home
This help you …
- Lower your overall mortgage amount
- Make monthly mortgage payments more affordable
To be eligible you should have …
- never purchased a home before in Canada
- not occupied a home that you, your current spouse or common-law partner owned in the last 4 years
- recently experienced a breakdown of marriage or common-law partnership
If you meet the criteria above, further qualifications are based on your income and status …
- Your total qualifying income is no more than $120,000 ($150,000 for homes in Toronto, Vancouver, or Victoria)
- Your total borrowing is less than four times your qualifying income (four and a half times your income if you’re purchasing in Toronto, Vancouver or Victoria)
- You are a Canadian citizen, permanent resident or non-permanent resident authorized to work in Canada
- You meet the minimum down payment requirements
To find out more about this, check out the links below