Compare Listings

Top 6 First-Time Home Buyer Grants and Programs

 

Mortgage grants and assistance programs you can use to buy a home.

  • First-time Home Buyers’ Tax Credit

 

This isn’t just small change – a $10,000 non-refundable tax credit could mean up to $1,500 back in your client’s wallet. It’s a sweet start to their home buying journey.

  • First-Time Home Buyer Incentive

 

This program is like having the government chip in on the purchase price of a new home. Depending on the home, your clients could see 5% or even 10% of the price covered, which makes their mortgage payments smaller.

  • GST/HST New Housing Rebate

 

If your clients are building a new home or renovating an old one, they could get back a part of the GST or HST they pay. It’s a nice way to save some money on a big project.

  • Land Transfer Tax Rebate

 

Buying a home in Ontario, Toronto, BC, or PEI has a perk. First-time home buyers can get some of the tax they pay for transferring land back, leaving more money in their bank account. More savings, more smiles.

  • Home Buyers’ Plan

 

If your clients need extra money for their down payment, they can borrow up to $35,000 from their retirement savings (RRSP). The best part? They won’t pay any tax on this money as long as they pay it back in time.

  • Canada Greener Homes Grant

 

For clients who want to make their home eco-friendly, there’s up to $5,600 available to help pay for things like energy assessments and green upgrades.

Share:
img

John Siarkas

Related posts

TIPS FOR BUYERS & SELLERS IN THE SEASON OF SUNSHINE

As summer shines brightly, seize the opportunity to make a splash in the real estate market!...

Continue reading
by John Siarkas

READY, SET, SUMMER: 5 STEPS TO SPRUCE UP YOUR OUTDOOR AREA

With summer just around the corner, it’s time to dust off those outdoor spaces and get them...

Continue reading
by John Siarkas

GTA REALTORS Release March 2024 Stats

In March 2024, Greater Toronto Area (GTA) home sales dipped by 4.5% compared to the same month in...

Continue reading
by John Siarkas