The First-Time Home Buyer Incentive program set to launch in September helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens.
If you meet the criteria, you can then you can apply for a 5% or 10% shared equity mortgage with the Government of Canada. A shared equity mortgage is where the government shares in the upside and downside of the property value.
https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive
https://www.cmhc-schl.gc.ca/en/nhs/canada-first-time-home-buyer-incentive
