Brandon Ware sat down with Smantha Comito of Outline Financial to get quick details and facts about this government program designed to help First Time Buyers.
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Other quick stats:
▫️You have to repay 1/15th every year (paid back over a 15 year period)
▫️A single FTHB buyer can use $35,000
▫️A couple (both of whom qualify as FTHB) can use $70,000 ($35,000 each)
▫️The home can’t be a rental property. It has to be your primary residence.
▫️Make sure you have the funds in your RRSP account long enough to qualify to use for your purchase!