Canada's CMHC discontinues First-Time Home Buyer Incentive program, offering shared-equity mortgages in 2019 due to eligibility issues.
Canada's CMHC has discontinued its First-Time Home Buyer Incentive program, which offered shared-equity mortgages. The program, introduced in 2019, allowed first-time homebuyers to obtain lower mortgage payments by having the government loan up to 10% of the property purchase price, allowing for a larger down payment. The program faced issues related to eligibility, such as limits on household income and mortgage size.
March 01, 2024
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