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first time home buyers
incentives and rebates
buying a brand new home?
Are you thinking of buying a new construction home? It doesn't need to be a single family house. The Government of Canada will help First Time Home Buyers with the down payment by loaning you up to 10% of the purchase price.
home types
Single Family
Condo
Duplex
Townhouse
Manufactured
incentive
5 or 10% towards your down payment
how it works
The Government is loaning you money to help reduce your mortgage payments. All you need is enough of your own money for 5% of the down payment. You can choose for the Program to lend you an additional 5 or 10%.
Simply fill in an application form and submit it to the bank before you buy a home. We can help!
Repayment happens upon the sale of the home or after a maximum of 25 years.
You can re-pay in full at any time without penalty.
The loan is not interest bearing.
buying a re-sale home?
Are you thinking of buying a home that is on the market? Any home that has been lived in before is considered a re-sale home. The Government of Canada will help First Time Home Buyers with the down payment by loaning you 5% of the purchase price.
home type
Single Family
Condo
Duplex
Townhouse
Manufactured
incentive
5% towards your down payment
how it works
The Government is loaning you money to help reduce your mortgage payments. All you need is enough of your own money for 5% of the down payment. You can choose for the Program to lend you an additional 5%.
Simply fill in an application and submit it to the bank before you buy a home. We can help!
Repayment happens upon the sale of the home or after a maximum of 25 years.
You can re-pay in full at any time without penalty.
The loan is not interest bearing.
energy efficiency rebates
Did you know you can qualify for rebates and credits available to you just for buying an energy efficient home?
Being Energy Efficient can mean lot of different things. Luckily they've created some standards so that you can figure out how a home is rated.
rebates
CMHC Green Home
Genworth Housing Program
Canada Guaranty
Advantage Program
how much?
15 or 25% off
your Mortgage Loan Insurance Premium
Refund depends on level of energy efficiency.
details
When you buy or build an energy efficient home OR buy an existing home and make energy-saving renovations, you could be eligible for a refund on your Mortgage Loan Insurance Premium.
This includes LEED certified
high rise condos.
R-2000 certified homes can qualify for a 25% Premium Refund.
tax credits
You can get a tax credit just for being a First Time Home Buyer. Yes, really.
All you have to do is fill out a form when you file your Federal Income Taxes and the credit can be applied on your tax return. It's that easy.
Who?
If you or your spouse/common law acquired a qualifying income
AND you are a first time home buyer.
Tax Credit
up to $750
details
You can claim $5000 for the purchase of a home in the year just for filling in a form.
A qualifying home is an existing or new construction home including single family, semi-detached, townhouse, condo and mobile home.