There are a number of programs available that provide incentives, tax credits and rebates to assist eligible home buyers with their purchase. These are:
GREY COUNTY HOME OWNERSHIP PROGRAM
The County of Grey Home Ownership Program will provide down payment assistance of up to 5% to eligible purchasers at the time of closing of purchase and sale of home. Find more information here.
The County of Grey Home Ownership Program will provide down payment assistance of up to 5% to eligible purchasers at the time of closing of purchase and sale of home. Find more information here.
GOVERNMENT OF CANADA HOME BUYER PROGRAMS
First-Time Home Buyer Incentive Eligible first-time home buyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada. Visit the First-Time Home Buyer Incentive for more details.
First-Time Home Buyer Incentive Eligible first-time home buyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada. Visit the First-Time Home Buyer Incentive for more details.
First-Time Home Buyers' (FTHB) Tax Credit The FTHB Tax Credit offers a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief. Go to the Home Buyers’ Credit section to see if you are eligible.
Home Buyers' Plan (HBP) This program allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. Review the Home Buyers' Plan for more information.
GST/HST New Housing Rebate You may qualify for a rebate of part of the GST or HST that you paid on the purchase price or cost of building your new house or, on the cost of substantially renovating or building a major addition onto your existing house, or on converting a non-residential property into a house. GST/HST New Housing provides all of the details on this rebate.
Land Transfer Tax Refunds For First-Time Homebuyers When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all or part of the tax. For more information, look here.
Please let me know if you'd like me to discuss with you, or help you research any of these options!