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Up To $75,000 Down Payment Help

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RECEIVE UP TO $75,000 TOWARDS DOWN PAYMENT OAC

No Monthly Payments and No Interest for 25 years.


5% to 10% First-Time Home Buyer Incentive

1st Time Home Buyers can now receive 5% to 10% Down Payment Incentive from the Canadian Government on a shared equity basis. To qualify you must be a first-time homebuyer(s) and total annual qualifying income should not exceed $150,000. You should have a minimum of 5% for the down payment from your own resources such as savings, RRSP, Investments, etc. Here’s how it works if you do qualify.

Here’s how it works if you do qualify.

Purchasing a Resale Property. - EXAMPLE

Purchase Price   $700,000
Your down payment $45,500  
Government Incentive $35,000  
Total down payment $80,000 $80,000
Mortgage Amount   $620,000

Purchasing a New Development. EXAMPLE

Purchase Price   $749,400
Your 10% down payment $74,500  
Government 10% Incentive $74,400  
Total down payment $149,900 $149,900
Mortgage Amount   $599,500

Please note this is a Government Incentive Program. The first-time homebuyer will be required to repay the Incentive amount after 25 years, or when the property is sold, whichever is earlir.

Apply now for a mortgage and receive up to $75,000 down payment incentive oac.

Apply now. Oac.

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