More Details for First-Time Home Buyer Federal Incentive

The new federal incentive for some first-time home buyers, for which CMHC would provide up to $1.25 billion in interest-free loans over three years, will launch in September.

First-time home buyers taking advantage of the incentive to supplement their down payment will share any increase in value with the government when the house sells. They will have an option to buy out the government earlier if they choose. They would have to repay the government after a maximum of 25 years if the house is not sold.