5 April 2019

As you know, the government will provide 5% of a mortgage on existing properties for borrowers whose annual income is less than $120,000, in exchange for a share of the house equity.

Stimulating the construction of new units, the government will give 10% in case of purchasing new properties, if its cost doesn’t exceed $480,000.

Although the program has certain limitations, CMHC is sure it will work all over Canada, even in the expensive markets of Vancouver and Toronto.