First-Time Home Buyers
The Canadian government offers a raft of First-Time Home Buyer incentives to help you acquire your first home. The most notable incentives are:
By using these programs, they can boost your down payment, leading to lower payments over the amortization period.
It’s absolutely crucial that FTHBs are aware of the programs and utilize them well, and this is where Ontario Mortgage Memo can help.
Also, here’s a fun fact: you don’t have to be an actual first-time home buyer in order to qualify as a FTHB! If you did not live in a home that you owned or your spouse or partner owned in the current year, or in the 4 previous calendar years, or you have a spousal breakdown, you may still qualify for these programs.