You are here:Home-Featured-First Time Home Buyer Incentive Program
First Time Home Buyer Incentive Program
Tax credits and other benefits to help you purchase your house
Buying your first home is one of the largest investments of your life. If you plan to buy a home, there are programs offered by the Government of Canada that can help you become a homeowner.
First-Time Home Buyer Incentive
The First-Time Home Buyer Incentive helps first-time homebuyers without adding to their financial burdens. Eligible first-time homebuyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada. Visit the First-Time Home Buyer Incentive for more details.
To assist first-time homebuyers with the costs associated with the purchase of a home, including legal fees, disbursements and land transfer taxes, the Government of Canada introduced the FTHB Tax Credit in 2009. It represents a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief.