6 things to know about Trudeau's First-Time Home Buyer Incentive

The federal government’s new incentive aimed at improving affordability for first-time homebuyers is about to launch on Sept. 2.  

Ottawa has earmarked $1.25 billion over three years for the First-Time Home Buyer Incentive (FTHBI), which is designed to lower new homeowners’ monthly mortgage payments without boosting their down payment costs.

While this may seem like good news for prospective homebuyers, the incentive has come under intense scrutiny since it was announced in March, with some arguing it won’t help those looking to live in the country’s most expensive markets.

So before you apply, here’s everything you need to know about the incentive.

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