The First-Time Home Buyer Incentive Program (FTHBI), became effective on September 02,2019.  This program is aimed at making it easier for young people to buy their first home, by lowering new buyer’s monthly mortgage payments.

To qualify for the program, you must meet minimum payment requirements with traditional sources.  There are a few conditions to watch out for:

  • Applicants must not have owned a house in the last four years.
  • At least one borrower must be a first-time homebuyer
  • You need to have the minimum 5% down payment to be eligible
  • Your maximum qualifying income is no ore than $120,000
  • The property must be owner-occupied

When does the Incentive have to be repaid?

The Homebuyer will be required to repay the Incentive after 25 years from the date of the purchase of the home, or when the home is sold, whichever comes first.

In the event of a sale, the Homebuyer must notify the Program Administrator in advance and seek concurrence as to the market value of the home.

In the event of a prepayment, the Incentive may also be repaid in full by the Homebuyer at any time, subject to the amount being repaid, being approved by the Program Administrator.


How does the FTHBI program work?

In exchange for providing the assistance through the FTHBI Program, you agree that the Program Administrator will be entitled to share in the upside or downside of the market value of the home at the time of repayment.



How to Apply:

  • Read, print and sign the SEM (Shared Equity Mortgage) Attestation and Consent form. (
  • Give the signed form to your mortgage/lender broker.
  • The lender will submit the form and necessary information on your behalf to the government body in charge
  • Notify your solicitor.
  • Call the 1.877.884.2642 to let them know which solicitor will be handling the closing of your property