More sad news for the Canadian Mortgage space.  The Government of Canada’s FTHBI First Time Home Buyer Incentive is going away!

All applications for the incentive will need to be received by March 21st at 12:00 a.m. EST.   For single-income households, this program usually made the difference between being able to qualify for a house or condo.

If you are planning on using the incentive, you will need to move fast!  After March 21st, your purchasing power could be reduced.

We hope that there will be some good policy and news coming out of Ottawa in the coming months!

Here is the link to the CMHC Website

https://www.cmhc-schl.gc.ca/consumers/home-buying/first-time-home-buyer-incentive?fbclid=IwAR0ajl5LvjQ6ll8rBlsRLq_2s40N3xPAkhaPvWTYlQy0Ap9sinybZoIgKks