Effective September 2, 2019, the Government of Canada will introduce the First Time Home Buyer Incentive (FTHBI) to help qualified First Time Home Buyers (FTHB) purchase a home, making home ownership more affordable by reducing their monthly mortgage payment without increasing their down payment. The FTHBI is considered a Shared Equity Mortgage (SEM) where the Government of Canada has a shared interest in the borrower’s property value. This program is available through the default insurers; Canada Mortgage Housing Corporation (CMHC), Genworth and Canada Guaranty. Borrowers will receive an incentive in the form of an interest-free loan towards their down payment:
- 5% for the purchase of a resale property OR
- 5% or 10% for the purchase of a new construction home
Lets Meet and start application Process.
My Direct Line 5197320525 √