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.'

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