Calgary: 403.466.6654 | Kelowna: 778.344.5565 info@advancedmortgage.ca

As of September 1, 2019, Canadians have access to a new program that makes it easier and more affordable to become a home owner. The Government of Canada is offering 5% for qualified home buyers of existing homes and up to 10% for new construction homes.

The basics of the plan are quite simple:

You must be a first time home buyer, defined as:

  • Never have owned a home in Canada
  • Have not been on title of  home in Canada for a period of 4 years or more
  • Going through a divorce
  • Have a combined household income below $120,000.00/year
  • Must be a Canadian Citizen, permanent resident, or non-permanent residents that are legally entitled to work in Canada
  • The first mortgage and incentive amount cannot  exceed 4 times the total qualified annual income

The following home types qualify:

  • Single family Homes
  • Semi-Detached Homes
  • Duplex
  • Triplex
  • Fourplax
  • Townhouses
  • Condominiums
  • Mobile Homes
  • Newly constructed homes
  • Existing re-sale homes

For full breakdown of the program, please give us a shout at 403-466-6654, we can’t wait to chat with you! 

Contact Us anytime if you have questions.