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First Time Home Buyer Update – Sept 1, 2019

CMHC has just added some incentives to first time home buyers. Here are some things you need to know:

Qualifiers:

  • 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

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