Buying a home? CMHC could soon kick in 10% of the cost — for a price
April 28, 2019 | Posted by: Rachelle Czartorynskyj
The government is earmarking $1.25B over 3 years for something it's calling a 'shared equity mortgage'
The 2019 federal budget includes a tantalizing pitch for prospective first-time homebuyers — one that could see Canada's housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers.
The budget offers the program, known as the First Time Home Buyer Incentive, as a way to help with housing affordability. The government is earmarking $1.25 billion over three years for something its 'shared equity mortgage.'