The federal government has assistance programs to help homebuyers.
 
Research government program requirements to see if you are eligible
 
FIRST-TIME HOME BUYER INCENTIVE 
The First-Time Home Buyer Incentive helps people across Canada purchase their first home. The program offers 5 or 10% of the home’s purchase price to put toward a down payment. This addition to your down payment lowers your mortgage carrying costs, making homeownership more affordable.
 
The First-Time Home Buyer Incentive makes it easier for you to buy a home and lower your monthly mortgage payments. This program is a shared equity mortgage. This means that the government shares in the upside and downside of the property value. It allows you to borrow 5 or 10% of the purchase price of a home. You pay back the same percentage of the value of your home when you sell it or within a 25-year window.
 
FIRST-TIME HOME BUYERS’ TAX CREDIT
 
A $5,000 non-refundable income tax credit on a qualifying home. The credit provides up to $750 in tax relief to assist first-time buyers with purchase costs.
 
 
HOME BUYERS’ PLAN
 
A one-time withdrawal of up to $25,000 from a Registered Retirement Savings Plan (RRSP) by first-time buyers to help purchase or build a home.
Generally, you have to repay all withdrawals from your RRSP within 15 years.
 
 
CMHC GREEN HOME PROGRAM
 
When you use CMHC-insured financing to buy or build an energy-efficient home or make energy-saving renovations, you may qualify for a premium refund of 10% on your mortgage default insurance and a premium refund for a longer amortization period (if applicable).