The Federal Government has assistance programs to help homebuyers. Research government program requirements to see if you are eligible!
1. First Time Home Buyers Tax Credit - a $5000 non-refundable income tax credit on a qualifying home. The credit provides up to $750 in tax relief to assist first time buyers with purchase costs. Check the Canada Revenue Agency's (CRA) website: www.cra-arc.gc.ca
2. Home Buyers' Plan - a one-time withdrawal up to $25,000 from a Registered Retirement Savings Plan (RRSP) by first time buyers to help purchase or build a home. Generally you have to repay all withdrawals from your RRSP within 15 years. For more details, visit CRA's website: www.cra-arc.gc.ca
3. CMHC Green Home Program - when you CMHC-insured financing to buy or build an energy efficient home or make energy-saving renovations, you may qualify for a premium refund of 10% on your mortgage default insurance and a premium refund for a longer amortization period (if applicable). Check out CMHC's website: www.cmhc.ca
Government programs can change over time. For the most up-to-date information, refer to Service Canada's website:
www.servicecanada.gc.ca
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
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