First Time Home Buyer Incentive, FTHB Eligibility, Calculator, How to Apply

First Time Home Buyer Incentive – The Canadian Government issues many programs through which they provide benefits to their peoples & various rewards like Tax Rebate, Income Support and others are giving under the programs. It’s to inform you all that the First Time Home Buyer Incentive is another program issued by the Canadian Government. This program is one of the most important programs in which First Time Home Buyer receives 10% Down Payment from the government which you can repay according to the schedule.

If your family income is $150,000 or beneath then you’re eligible to apply for the FTHB Incentive. You should know that if you purchase the newly constructed house then you’ll get 10% Payment Assistance and if you purchase Second Hand Home then you’ll receive 5% Assistance. This Scheme is applicable in all the Provinces of Canada &  can be applied by the Residents to claim the benefits provided under this scheme. If you purchase the home worth $5,00,000 then you’ll get assistance of $5000 to purchase the new home.

First Time Home Buyer Incentive

As we all know, the Government of Canada led by Justin Trudeu works tirelessly to give Income & Economical Support to their citizens through various programs. Now, one of the major programs among these is First Time Home Buyer Incentive under which all the buyers get 10% Financial Assistant in purchasing their New Home. Many readers were searching for the information related to this program so we decided to come up with complete detail related to FTHB Incentive like Eligibility, How Does it Work, Application process & more. If you’re as well planning to buy a new home then you should definitely register for this Incentive.

You should ensure that you pass all the requirements in accordance with First Time Home Buyer Eligibility. If you qualify to apply online & then register online then you’ll get various benefits offered under the Program. Ensure you check the FTHB Incentive Calculator through which you can receive to know about the amount which you’ll get under this program. Complete Instructions are available in this writing by utilizing which you can Apply Online First Time Home Buyer Incentive on the Official Website.

First Time Home Buyer Incentive Details

Read Also – Code Tantra Login

Eligibility for First Time Home Buyer Incentive

Check the Points beneath to know about First Time Home Buyer Incentive Eligibility.

• Firstly, you must be a resident of Canada and have living in Canada for the previous many years.
• 2ndly, your family income must be less than $150,000 per annum & then only you can apply online.
• 3rdly, this must the First home which you are purchasing in Canada and the Incentive depends upon your House.
• In addition, you’ll be eligible to get a Down Payment Incentive of 5% to 10% depending upon your House Condition.

First Time Home Buyer Incentive Benefits

Following are the Benefits of First Time Home Buyer Incentive so ensure you read them before proceeding further.

• 1st of all, this program gives you 10% Incentive on purchasing the 1st home.
• You can repay the amount once you’ve bought the House.
• This Incentive is Tax-Free & you can utilize this amount without any worry.
• There’re many other benefits of this program which you’ll get after your application is approved.

Read Also – PFMS Scholarship

FTHB Incentive Calculator

• All the interested candidates are appealing to check points beneath to know about FTHB Incentive Calculator.
• The condition of the House is the major factor which affects your Incentive Amount.
• If you purchase a new house then you’ll get a 10% down payment from the Government.
• If you purchase a renovated house then you’ll get an incentive anywhere between 5% to 10%.
• If you buy an under construction home then you’ll be eligible to get 5% Down Payment.

How to Apply Online First Time Home Buyer Incentive

Utilize the Instructions beneath to Apply Online First Time Home Buyer Incentive.

• 1st of all, you’ve to go to the official web page of the Canadian Government.
• Find for FTHB and wait for the results to come up.
• Now, Download the SEM Attestation & Consent Form.
• Enter this form with the basic information and then submit the form with CRA.
• Now, you’ll get the incentive before purchasing your new home.

Also Check –

US Visa Status Check

CRA Assessment Notice

Carbon Tax Rebate

OAS Payment Date November

Canada Public Holidays

Canada Dental Benefit

CLMS BSF Login

Frequently Asked Question