Get Your Repeat Homebuyer's Guide - Plaza - Plaza Ufl

First-Time Home Buyer Incentive This incentive contributes up to 10% of the total cost of your home (5% for an existing home, and 10% for a newly-built home), which you'll need to pay back within 25 years or when you sell the home, whichever comes first.

With this incentive, Government of Canada provides: 5% or 10% for a first-time buyer's purchase of a newly constructed home. 5% for a first-time buyer's purchase of a resale (existing) home. 5% for a first-time buyer's purchase of a new or resale mobile/manufactured home.

What is a minimum down payment Purchase price of your homeMinimum amount of down payment$500,000 or less5% of the purchase price$500,000 to $999,9995% of the first $500,000 of the purchase price 10% for the portion of the purchase price above $500,000$1 million or more20% of the purchase price Nov 29, 2023

With this incentive, Government of Canada provides: 5% or 10% for a first-time buyer's purchase of a newly constructed home. 5% for a first-time buyer's purchase of a resale (existing) home. 5% for a first-time buyer's purchase of a new or resale mobile/manufactured home.

The Home Buyers' Plan (HBP) is a program that allows you to make a withdrawal from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. The HBP allows you to pay back the amounts withdrawn within a 15-year period.