Federal Budget 2019 Updates for First-Time Home Buyers:
- First-Time Home Buyer Incentive: Canada Mortgage and Housing Corporation (CMHC) would provide up to $1.25 billion over three years (starting in 2019–2020) to eligible home buyers by sharing in the cost of a mortgage. Eligible first-time home buyers who have the minimum down payment for an insured mortgage would apply to finance a portion of their home purchase through a shared equity mortgage with CMHC.
- Home Buyers' Plan (HBP) Update: RRSP withdrawal limit for first-time home buyers rises to $35,000 from $25,000
Learn more about the 2019 budget updates by going to the following
Consumer Protection Ontario:
Before, during or after you make a purchase or sign an agreement, learn your rights and find the information you need to know to protect yourself. For more information visit the below links: