Incentives for First Time Buyers

Call Today for Details 306-201-5905


     The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens.

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Who can apply? 
Canadian citizens, permanent residents, and non-permanent residents who are legally authorized to work in Canada whose income in not more than $120,000

What properties are eligible? 
New construction, re-sale home, new and re-sale mobile/manufactured homes ,
Residential properties can include 1 to 4 units, Single family homes , Semi-detached homes , Duplex -Triplex – Fourplex, Town houses ,Condominium unit

Incentive by Property Type
New Construction  - 5 % or 10%
Existing Home – 5%
New or re-sale mobile/manufactured home – 5%

  No Incentive 5% incentive 10% Incentive
Purchase Price $500,000 $500,000 $500,000
5% Down $25,000 $25,000 $25,000
Incentive $0 $25,000 $50,000
Mortgage $475,000 $450,000 $425,000
Mortgage + Insurance $494,000 $463,950 $436,900
Monthly Payment $2,260 $2,122 $1,999
Monthly Saving   $138 $261
Yearly Saving   $1,656 $3,132
Counted as 2.69 rate      

  

Vishala Nakarani
Vishala Nakarani
Associate
2350 2nd Avenue Regina SK S4R 1A6