A More Flexible First-Time Home Buyers’ Incentive
In 2019, we launched the First-Time Home Buyers’ Incentive (FTHBI), an innovative new tool that allows middle class families looking to buy their first home, reduce the size of the mortgage they require, and reduce their monthly housing costs. FTHBI is a shared-equity mortgage, where, upon sale, the government incurs a portion of any increase (or decrease) in a home’s value.
A re-elected Liberal government will:
- Allow you to choose between the current sharedequity approach or a loan that is repayable only at the time of sale.
This would let you keep more of any increase in the value of your home, while still reducing your monthly mortgage costs.