First-Time Home Buyers Programs Available in Canada
Did you know that there are a few programs available in Canada for first-time home buyers?!
>>First-Time Home Buyer Incentives<<
The First-Time Home Buyer Incentive helps first-time homebuyers without adding to their financial burdens. Eligible first-time homebuyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada.
>>Home Buyers' Amount<<
The Home Buyers’ Amount offers a $5,000 non-refundable income tax credit amount on a qualifying home acquired during the year. For an eligible individual, the credit will provide up to $750 in federal tax relief.
>>Home Buyers' Plan<<
The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $35,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.
>>GST/HST New Housing Rebate<<
You may qualify for a rebate of part of the GST or HST that you paid on the purchase price or cost of building your new house, on the cost of substantially renovating or building a major addition onto your existing house, or on converting a non-residential property into a house.
To learn more or to book a consultation, contact me direct at
780.504.4470 or [email protected]