Canada to launch First-Time Home Buyer Incentive program

Toronto : Government of Canada is taking important steps to make housing more accessible and affordable in Canada, especially for first-time homebuyers.

The Prime Minister, Justin Trudeau, today visited Orléans, Ontario, to highlight the First-Time Home Buyer Incentive, a new program announced in Budget 2019 that will make it easier for more Canadians to buy their first home.

Under the new program, eligible first-time home buyers could share a part of the cost of buying a home with the Canada Mortgage and Housing Corporation (CMHC). For eligible buyers, the program would reduce the size of their insured mortgage and lower monthly mortgage payments.

Lower monthly payments mean more money for Canadians to put toward the things that matter to them – furthering their education, putting their kids in sports, or saving for retirement. It is part of the Government of Canada’s plan to help all Canadians build a better future for themselves and their families.