First Time Home Buyer incentive | What we know so far

If you’ve been hearing about a new incentive for First Time Home Buyers and wondering how it might impact you, look no further, below you will find all relevant information to date. As more information is released, you can expect to find it published here.

From the government of Canada, as part of their national housing strategy, the best source for information on this new First Time Home Buyer Down Payment Incentive / Shared Equity program can be found here:

Here are some of the highlights

  • The program launches Sep 2nd, 2019, first closing for Nov 1, 2019
  • Mortgage amount cannot exceed 4x your household income. Max income $120k
  • 5% down payment / shared equity for re-sale (existing home) available
  • 5% or 10% down payment / shared equity for new construction available
  • The incentive is repayable after 25 years or when the property is sold (whichever is first)
  • If you have never owned a home, haven’t owned a home for 4 years, or have recently experienced a marital breakdown, you may be eligible for the incentive
  • Mobile and Manufactured homes are eligible for this program
  • You will still need a minimum of 5% down payment from your own source (no borrowed funds)
  • The incentive will be registered as a second charge on your title

If you have any questions about this program and how it might impact you as you qualify for a mortgage, please contact me anytime!


“It’s about the client, not the paycheque.”

—Dan Oliver, Founder

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