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Buy your first home with a little help


Finding enough money to afford your first home can be intimidating. Don’t stress! There are several government programs and mortgage options that make things easier for first-time home buyers.

Government programs for first-time home buyers


First-Time Home Buyer Incentive

This program from the Canadian government helps lower mortgage costs for first-time home buyers. If you qualify, the government will offer 5% for the purchase of a home or 5% or 10% for a new construction as a shared equity mortgage. This helps reduce your mortgage payments without increasing your down payment.

Learn more about the First-Time Home Buyer Incentive
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Home Buyers’ Plan

Through this plan you can withdraw up to $35,000, in one calendar year, from your RRSP to buy or build a qualifying home. You need to pay back this amount within 15 years.

Learn more about the Home Buyers’ plan

First-Time Home Buyers’ (FTHB) tax credit

You can claim a $5,000 income tax credit from the government the same year you buy a home.

Learn more about the First-Time Home Buyers’ (FTHB) tax credit
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Meridian mortgages perfect for first-time home buyers


High ratio mortgages

Get a mortgage without a 20% down payment. It’s a great way to afford your dream home sooner.


The Family + Friends Mortgage

It’s easier to buy with a little help. This option lets you join forces with your family or friends to afford a home. You can use this option to apply for any Meridian mortgage.


Let’s talk about your mortgage


Getting your first mortgage is a big deal, but it doesn’t have to be stressful. Feeling good about your mortgage can start with a conversation. Get in touch or arrange for one of our Mortgage Specialists to come to you. It’s easy.