First Time Home Buyer Incentive Requirements 2019

Hi, this is Simmi from Re/Max. 👋🏼 Today I wanted to discuss the First Time Home Buyer Incentive Requirements. To be eligible for the Incentive:

1. You must be either a Canadian Citizen, have a PR or be on a Work Permit.
2. At least one borrower must be considered a First Time Home Buyer.
3. You must contribute the minimum required down payment from traditional sources.
4. The borrower's annual qualifying household income does not exceed $120,000.
5. Down payment cannot exceed 20% of purchase price.
6. The combined loan amount and incentive cannot exceed four times the total annual qualifying income.

Definitely let me know if you have any questions about this program or real estate in general. Thank you for watching! 😊

Simmi,Simmi Minhas,Toronto,Remax,Investor,Entrepreneur,Entrepreneurship,Real Estate,Toronto Real Estate,Real Estate Agent,Real Estate Investor,HGTV,York Region,Stouffville,Markham,Durham,Whitby,Peel,Brampton,Mississauga,GTA,Canada,First Time Buyers,Upsizing,Downsizing,Investment Property,Property,first time home buyer incentive,realtor,