CMHC has just added some incentives to first time home buyers. Here are some things you need to know:
- you need to have the minimum down payment to be eligible
- your maximum qualifying income is no more than $120,000
- your total borrowing is limited to 4 times the qualifying income
The government allowance is 1.5 billion for the incentive, so act fast before it all gets used up.
To find out if you are eligible visit: https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive