We love sharing news about affordable housing programs, so we’re happy to inform you about the CMHC’s First-Time Home Buyer Incentive! The Canadian Mortgage and Housing Corporation has devised a plan to help first-time buyers enter the market by lowering monthly mortgage payments in exchange for a shared equity mortgage. This means that the government will own a small part of the home in question, but more affordable payments will make this worthwhile for many prospective buyers. There are some finer details involved in the incentive, so follow along as we break them down for you!
Buying a home is an exciting time during which you are both securing your future and creating a wonderful space to build memories. Yet many first time buyers also have questions about the process. What to expect on closing day is a common topic that is brought up from prospective buyers. We’ve put together a list of the basics so you’re prepared when this landmark day arrives.