First-Time Home Buyer Incentive Estimator

Incentive Estimate Result:

Fill the form above and click calculate to check your potential FHBI benefit.

Canada’s First-Time Home Buyer Incentive (FHBI)

The First-Time Home Buyer Incentive (FHBI) is a federal program from the Government of Canada designed to make housing more affordable for first-time buyers. Through the incentive, eligible individuals can receive 5% or 10% of the property purchase price as a shared-equity mortgage with the Canada Mortgage and Housing Corporation (CMHC).

This program helps reduce the monthly mortgage cost without increasing your financial burden through interest or repayments until the property is sold or after 25 years—whichever comes first. The FHBI is a practical way to ease homeownership challenges, especially in high-cost regions like Ontario, British Columbia, and urban Alberta.

Who Qualifies for the FHBI?

• Your total annual household income is less than $120,000 (or $150,000 in select high-cost areas).
• You have the minimum down payment saved (at least 5%).
• The home is located in Canada and intended for primary residence.
• The mortgage must be insured, and the total mortgage amount cannot exceed 4 times your household income (or 4.5 times in extended areas).

How Much Will You Receive?

The amount of incentive depends on the type of home:

• 5% or 10% for new construction
• 5% for resale (existing) homes
• 5% for mobile/manufactured homes (new or resale)

This tool uses your home price and type to calculate the estimated FHBI assistance amount you might receive.

Advantages of Using This Estimator

• Instantly shows your potential benefit based on income and property value.
• Helps first-time buyers budget better for down payment and mortgage.
• No need for account or personal data — secure and anonymous tool.

Example:

If you purchase a newly built home worth CAD 400,000, you could be eligible for a 10% incentive, or CAD 40,000. This reduces your mortgage amount and lowers your monthly payments without adding interest costs.

However, keep in mind that because FHBI is a shared equity program, CMHC will share in any increase or decrease in the property’s value when you sell or refinance. This can affect how much you pay back later.

Use this calculator alongside other tools like Mortgage Estimators and Property Tax Calculators to get a full view of your homeownership costs and savings.