Overview
In Canada, the First-Time Home Buyer Incentive (FTHBI) assists first-time homebuyers by offering shared equity mortgages. This initiative, administered by the Canada Mortgage and Housing Corporation (CMHC), allows eligible individuals to finance a portion of their home purchase through a shared equity mortgage with the government. The FTHBI aims to make homeownership more accessible by reducing the financial burden on first-time buyers, helping them achieve their homeownership goals.
Why Choose Us
Tax Advantages:
Tax Advantages:Many first-time homebuyer savings programs offer tax benefits, such as tax deductions or exemptions on contributions or interest earned, providing a financial incentive to save for a home.
Goal-Oriented Saving:
FHSA-type accounts are typically structured to help individuals save specifically for their first home, encouraging disciplined saving towards a significant financial goal.
Potential Incentives:
Some programs may offer additional incentives, such as matching contributions or bonuses, to further boost savings for the purchase of a first home.
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