First-Time Homebuyers Incentive Changes: What You Need to Know
D Fritz Appraisals
JUNE 15, 2021
The First-Time Buyers Incentive can lower your monthly mortgage payments. As explained by the National Housing Strategy, the First-Time Home Buyers Incentive is a program that lets you borrow 5% or 10% of the sticker price of a home. The mortgage insurance premium is based on the loan-to-value ratio of the first mortgage only.
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