First-Time Homebuyers Incentive Changes: What You Need to Know
D Fritz Appraisals
JUNE 15, 2021
To qualify for the incentive, your mortgage must be greater than 80% of the value of the property subject to a real estate loan premium. You didn’t live in a home that you (or your current spouse or common-law partner) owned within the last 4 calendar years. The incentive works just like putting a second mortgage on your home.
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