Thinking About Buying A New Home? The Federal Government Is Offering $1.25 Billion To First Time Home Buyers!
Posted by Paul Ambler on
March in Ottawa was nothing short of tumultuous (confusing...loud...& noisy). Making the water in Ottawa a little more murky, enter the 2019 Federal Budget, just ahead of the federal election in October. The Liberal government released a $22.8 billion dollar budget touching on a number of themes like pharmacare, job skills training, seniors, indigenous programs, electric vehicles to name a few. Perhaps the most intriguing was $1.25 billion dollars in stimulus for First Time Homebuyers in Canada. This is an enticing pitch to new homebuyers that would see the Canada Mortgage Housing Corporation (CMHC) contribute up to 10% of the purchase price in what the government is calling a "shared equity mortgage". The purpose would be to help lower buyers monthly…
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