First-Time Home Buyer Incentive

HOW IT ALL WORKS…

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

1. Learn About the Program

2. Determine Your Eligibility

  • Contact a lender/mortgage professional
  • Review program requirements and ensure that this is for you.
  • Try the self-assessment tool.

3. Choose Your Incentive and Apply

  • Review the details and select the incentive that is right for you.
  • Read, print and sign the application documents in the resources section and take them to your lender.
  • Application submissions will be completed by your lender.
  • Notify your solicitor.
  • Call the 1-800 number to activate.

4. Repayment

  • Early payout options in full are available at any point in the duration of the 25 years.
  • Learn more about fair market value and how this will help you calculate repayment.
  • Calculate the fair market value of your home and multiply it by the percentage of the Incentive you received.