# @realwillmansour on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/C4OkcBjrLku
- **Gondola URL:** https://gondola.cc/posts/61625091-realwillmansour-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/221731527c.jpg
- **Posted:** 2024-03-07T21:12:41.000+00:00
- **Account Owner:** Will Mansour (@realwillmansour) — https://gondola.cc/realwillmansour

## Caption

🚨 Big News for Canadian Homebuyers 🚨

Canada’s First-Time Homebuyer Incentive program is saying goodbye. Launched in 2019 to help make homeownership dreams come true, it’s now winding down. 

Here’s what you need to know:

1. A Helping Hand: The program offered a 5 or 10% loan towards the purchase price, aiming to lower monthly mortgage payments for first-time buyers.

2. The Catch: Borrowers had to repay the loan within 25 years or upon selling the property, with the amount due reflecting the property’s value change.

3. Challenges Ahead: Stricter income and mortgage limits, especially in cities like Toronto, made it hard for many to qualify. Critics argue it didn’t quite help with securing a down payment, and the government’s share in property price gains was a turn-off.

4. Last Chance: Interested in jumping on this opportunity before it’s gone? The deadline for new or updated applications is midnight, March 21st.

5. Looking Forward: With the program’s closure, it’s time to explore new ways to make homeownership more attainable for Canadians.

Let’s keep the conversation going on how to support first-time homebuyers. What’s next for affordable housing in Canada? 🏠💭

#HomeOwnership #CanadaHousing #FirstTimeBuyer #AffordableHousing #RealEstateCanada #HomebuyerIncentive #CanadianRealEstate #HousingMarket #PropertyInvestment #EndOfAnEra

## Stats

- **Views:** 0
- **Likes:** 22
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- **Comments:** 1

## Tags

canadahousing, firsttimebuyer, housingmarket, homebuyerincentive, realestatecanada, canadianrealestate, affordablehousing, propertyinvestment, homeownership, endofanera

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