down payment assistance Archives - Mortgage Rates & Mortgage Broker News in Canada

Thinking of gifting a down payment this holiday season? Here’s what you should know

December 22, 2024 No Comments

With the holiday season in full swing, many Canadians are focused on gift giving. For some, that includes helping loved ones take their first steps toward homeownership with a financial contribution for their down payment.

What you need to know before helping your child with a home down payment

October 31, 2024 No Comments

With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be a daunting task for first-time buyers.

Boundaries, communication are key for parents running the Bank of Mom and Dad

October 18, 2024 No Comments

In a world of sky-high home prices and rising cost of living, many parents are inclined to financially help their adult children. But experts say parents need to lay out clear guidelines before their children tap the Bank of Mom and Dad to ensure they don’t put their own retirements on the line.

Parents helping kids with mortgage down payments

Parents to the Rescue: Average Size of Gifted Down Payments Rises to $82,000

October 25, 2021 No Comments

As home prices have risen sharply in recent years, so too has the amount of down payment assistance parents are willing to give their kids.

Buyers shun first-time home buyers incentive

Homebuyers Shun CMHC’s First-Time Home Buyer Incentive

June 23, 2021 5 Comments

The federal government’s First-Time Home Buyers Incentive was meant to offer a path to homeownership for those unable to tap the ‘Bank of Mom and Dad’ for down payment assistance.

First-Time Home Buyer Incentive 2.0 Now Available

May 3, 2021 1 Comment

Long-awaited tweaks to the government’s First-Time Home Buyer Incentive became official on Monday.

First-Time Home Buyer Incentive to Become More Useful in Select Markets

December 4, 2020 No Comments

First-time homebuyers in three of Canada’s most expensive housing markets will soon have an easier time qualifying for the First-Time Home Buyer Incentive (FTHBI).

First-time home buyer incentive fails to launch

CMHC’s First-Time Home Buyer Incentive Off to a Slow Start

February 3, 2020 7 Comments

Four months after its official launch, CMHC’s First-Time Home Buyer Incentive had funded just 4% of its three-year goal, according to new data provided by

First-Time Home Buyer Incentive Now Available

September 3, 2019 No Comments

Five months ago the Liberal government unveiled the First-Time Home Buyer Incentive, a new initiative aimed at easing affordability for first-time homebuyers. The FTHBI officially

Update on CMHC’s First-Time Home Buyers Incentive

April 5, 2019 12 Comments

Details have been few and far between on the government’s new First-Time Home Buyers Incentive (FTHBI) since it was announced in last month’s budget. But

down payment assistance