Firs-Time Home Buyers Incentive (FTHBI) – Proposed
Provider: Government of Canada (through CMHC)
Details: Announced in the Liberal government budget of 2019,
this plan will provide down payment assistance to first-time homebuyers
by way of a shared equity program (the First Time Home Buyer Incentive),
n which CMHC will provide 5% of the purchase price for existing homes
and 10% for new builds. For default-insured purchases only; annual
household income must be less than $120,000; the insured mortgage
plus incentive amount cannot exceed four times the participants’ annual
household income. The announced roll-out timeframe is September 2019.
Link: https://www.cmhc-schl.gc.ca/en/media-ne ... initiative
Home Buyers’ Plan (HBP)
Provider: Government of Canada
Details: 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.