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Unit #14 - 495 WT Hill Blvd S
Lethbridge, AB - T1J 1Y6

Mon-Fri 8:30 to 4:30

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info@bildlethbridge.ca
403-328-2288

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Find Us

Unit #14 - 495 WT Hill Blvd S
Lethbridge, AB - T1J 1Y6

Mon-Fri 8:30 to 4:30

Contact Us

info@bildlethbridge.ca
403-328-2288

Follow Us

Facebook
Twitter
LinkedIn
Instagram
 

First-Time Home Buyer Incentive

September 4, 2019 | Builder, New Homes, Parade of Homes

The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens.

This initiative is designed to help young Canadians access home ownership in a fiscally responsible and affordable way. Statistically this is the demographic group with the lowest percentage of homeownership. 

There are a few qualifiers to apply for this incentive:

  • you need to have the minimum down payment to be eligible
  • your maximum qualifying income is no more than $120,000
  • your total borrowing is limited to 4 times the qualifying income 

If you meet these criteria, you can then apply for a 5% or 10% shared equity mortgage with the Government of Canada. A shared equity mortgage is where the government shares in the upside and downside of the property value.

Want to learn more about buying your first home?

Ask a BILD Lethbridge Builder Member or online at

https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive

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