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             
          website: https://www.budget.gc.ca/2019/docs/plan/chap-01-en.html#Improving-Affordability-
          Today-Support-for-First-Time-Home-Buyers

 

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: