CMHC<\/a> (Canada Mortgage and Housing Corporation) through the IAPP (Incentive to Purchase a First Property) program. CMHC provides a loan of either 10% of the price of the property for new construction or 5% for resale, in addition to the traditional mortgage made by buyers from financial institutions.<\/p>\n\n\n\nFor who?<\/p>\n\n\n\n
– Those who want to access the property for the first time, the government is particularly targeting young adults<\/p>\n\n\n\n
– Those with a family income of less than $ 120,000 \/ year<\/p>\n\n\n\n
– Those who have a bottoming of less than 20% of the total price of the property<\/p>\n\n\n\n
Good to know<\/p>\n\n\n\n
– Separate couples can now benefit from the HBP bonus even if it is not their first purchase.<\/p>\n\n\n\n
– The repayment terms of CMHC are still vague, the only case cited by the government is the assumption of a refund at the time of resale of the property.<\/p>\n\n\n\n
– The IAPP budget amounts to $ 1.25 billion over 3 years<\/p>\n\n\n\n
– Ottawa plans to help 100,000 homes with these measures<\/p>\n\n\n\n
Example<\/p>\n\n\n\n
A young couple wants to buy a new condo for $ 300,000 and has a down payment of $ 15,000. He can then apply for CMHC assistance, which can lend him 10% of the sale price, or $ 30,000. The amount of the mortgage with the bank will amount to only $ 255,000. The borrower will save several thousand dollars each year.<\/p>\n\n\n\n
Conclusion If until now you do not feel ready to become owner, a door is opening. Do not hesitate to ask real estate professionals who will be there to answer all your questions. A chance to seize as long as there is still time!<\/p>\n\n\n\n
* Several other terms and conditions apply. To find out more, contact your real estate professionals from Groupe Lamarre<\/a>!
<\/p>\n","protected":false},"excerpt":{"rendered":"How? 1) Through the enhancement of the HBP (Home Buyers’ Plan) The amount of funds that can be withdrawn from RRSPs (Registered […]<\/p>\n","protected":false},"author":1,"featured_media":153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\n
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