Click on link for quick reference. We are still waiting on a number of mortgage lenders to jump on board but would expect all to do soon. It is not as amazing program and will be limited mainly to buyers under the $500,000 property value range so not much use to buyers in Toronto. Main points to take away are you have to put down at least 5%, CMHC will then match this, the loan has to be registered behind the first at the buyers expense, the loan has to be paid back within 25 years or when the home is sold, CMHC will partake in any profits on the home, you are limited to 4 times income with maximum combined income of $120,000.00, so for someone with 5% down and making $120,000.00 that would put a purchase price in the low 500s. Read more Read more .. ps://www.canadianmortgagetrends.com/2019/09/first-time-home-buyer-incentive-now-available/