First-Time Homebuyers Incentive Changes: What You Need to Know
D Fritz Appraisals
JUNE 15, 2021
As of May 3rd, 2021, new updates to the Canada Mortgage and Housing Corporation (CMHC)’s First-Time Homebuyers Incentive have come into effect. If that home’s value increases to $300,000, your payback will be 5% of the current value (or $15,000.). You receive a 10% incentive of the home’s price of $200,000, or $20,000.
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