Buying a Property: Programs and Credits
Need Help Buying your First Home?
Buying your first home can be difficult where mortgage financing is concerned.
Several financial assistance programs, under certain conditions, could be crucial for you. Here are a few.
Canadian Home Buyers’ Plan (HBP)
This tool could allow you to use, as a down payment, up to $ 25,000 of your savings accumulated in your RRSP account.
Mortgage insurance
If you are unable to raise the entire down payment required by your financial institution, this program could offer you insurance that would satisfy your mortgage lender.
First time home buyer’s federal tax credit
You could get financial assistance in the form of a tax credit following the acquisition of a first home.
Municipal financial assistance programs
Some municipalities offer financial assistance to home buyers.
Provincial energy efficiency program
Novoclimat is a program designed to promote the acquisition of energy-efficient properties.
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