boom is underway for years now. B.C. has meddled with it along with Justina and they are confused why crackerboxes keep going up. They supply the down payment . Wish I had that plan years ago, no wonder all the new cars in the driveways. Sheesh eh !

The First-Time Home Buyer’s Incentive

What it is: After tightening the screws on the mortgage market, the Trudeau government introduced the First-Time Home Buyer Incentive in the 2019 budget, billing it as an effort to help cash-strapped buyers afford their first home.

The program, which launches on Sept. 2, allows homebuyers to take out a smaller mortgages with lower monthly payments thanks to a government-funded down payment top-up of up to 10 per cent of the price of a new home. The incentive comes in the form of a second mortgage with no interest and no regular payments. Homeowners can repay the loan at any time with no pre-payment penalty, but the loan becomes due after 25 years or when you sell the home.