Government Grants for
First Time Home Buyers  

If you have been thinking that you would like to stop renting and purchase a
home of your own, but you don’t have enough for a down payment, you might be interested to know that the government is offering grants for first time homebuyers these grants are actually interest free loans to use as a down payment on a house.  That’s right!  The government of Canada has decided to help first time homebuyers with a down payment for a house.

How does it work?  Well, there are certain criteria that you have to meet in order to qualify for these grants. You must be at least 18 years old, you cannot own any other properties, the maximum loan is $9000, and your income has to be below a certain amount.  

The government does have a maximum amount of a house that you can purchase in order to qualify for this program. The maximum amount is calculated by the average MLS list prices for the area you live in. The amount is updated once every three months. In addition, they have decided there should also be a maximum amount of income you earn as well, which is also calculated by the area you are buying in. 

Click on the link for a list of municipalities and what the Maximum House Price you can purchase and the Maximum Income you are allowed to earn to qualify for this program. Now keep in mind that things are changing every day in the housing market and some municipalities have cancelled the program. If you would like us to find out if it is available in your area please call us at 1-866-924-4295.