Unlock Your Dream Home: Government Offers 30-Year Amortizations for First-Time Buyers! ??

Exciting news from the federal government: Starting August 1st, first-time homebuyers of newly built homes can now enjoy 30-year amortization periods on insured mortgages. But that's not all – Finance Minister Chrystia Freeland also announced an increase in the RRSP withdrawal limit for home purchases, from $35,000 to $60,000, effective April 16th.

With the dream of homeownership seeming out of reach for many due to soaring housing prices, the government is taking action to make it a reality. Longer amortization periods have long been suggested as a solution, and now they're here to help younger Canadians and first-time buyers turn their dreams into reality.

But wait, there's more! Over 750,000 First Home Savings Accounts (FHSAs) have been opened nationwide, allowing Canadians to save up to $40,000 towards a downpayment tax-free. Plus, the government is introducing the $1.5-billion Canada Rental Protection Fund to address the affordability crisis facing renters across the country.

As the housing market evolves, we're committed to helping you navigate these changes and find your perfect home. Don't miss out – seize this opportunity and take the first step towards homeownership today!

credit:https: // www.mpamag.com/ ca/mortgage -industry/market-updates/government-to-allow-longer-amortizations -for-certain-first-time -buyers /484849

#DreamHome #FirstTimeBuyers #HomeOwnership #OntarioRealEstate #AmortizationRevolution #GovernmentSupport #HousingMarket #OntarioLiving

Kiruban Kana

Ex-Banker | Vice President & Mortgage Agent Level II

C: 416-219-4820 | [email protected]

Coffeeandmortgage.ca

https://ovou.me/coffeeandmortgage

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