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HomeLife/Bayview Realty Inc., Brokerage*

(905) 889-2200
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Government Programs for Home Buyers

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A home is usually the single largest investment that most people make in their lives. Achieving your dream can be made easier by taking advantage of various Government Programs for home buyers and property owners. Some of the programs are targeted to first-time buyers, while others apply more generally. Other programs benefit those in the industrial, commercial and multi-unit property market. Your REALTOR can provide information on these programs and help you to determine your eligibility.


CMHC Purchase Plus Improvements

According to the Mortgage Consumer Survey, 37% of mortgage consumers didn’t know their renovation costs could be added to their mortgage (up from 31% in 2018).

Canada Mortgage and Housing Corporation (CMHC) insured mortgage loans are available to cover the purchase price of a home as well as an amount to pay for immediate major renovations or other improvements that the purchaser may wish to make to the property.

This option eliminates the need to obtain secondary financing after the purchase to pay for improvements. The homebuyer obtains a single first mortgage, makes a single mortgage payment, and benefits from first mortgage interest rates.

  • Flexible advancing options for small- or large-scale improvements and new construction.
  • Insured financing up to 95% of “as-improved” value for 1 or 2 unit owner-occupied properties, and up to 90% for 3 to 4 unit owner-occupied properties.
  • Down payment requirements are based on the lending value as determined by CMHC, which is the lower of the market value or the purchase price/cost of construction.

Energy efficiency rebate

CMHC Green Home offers a premium refund up to 25% to borrowers who buy, build or renovate for energy efficiency using CMHC-insured financing.

For more information call CMHC at (416) 221-2642 or www.cmhc.ca.


Purchase Price $100,000
Renovations/improvements costs $25,000
Total cost $125,000
Lending Value $125,000
Maximum Mortgage (95%) $118,750
Minimum 5% down payment $6,250



HST New Housing Rebate


You may be eligible to claim a rebate for a part of the HST you pay on the purchase price or cost of building your home if:

  • You buy a new or substantially renovated home (including the land or if you lease the land) from a builder.
  • You buy a new mobile home (including a modular home) or a floating home from a builder or vendor.
  • You buy a share of capital stock of a co-operative housing corporation.
  • You construct or substantially renovate your own home, or carry out a major addition (or hire another person to do so).
  • Your home is destroyed in a fire and is subsequently rebuilt.


  • Resale homes are exempt from the 6% HST.
  • New homes are subject to the 6% HST. New home buyers can apply for a 36% rebate of the 6% HST applicable to the purchase price to a maximum of $7,560 for homes costing $350,000 or less before HST.
  • For new homes priced between $350,000 and $450,000 before HST, the HST rebate would be reduced proportionately.
  • New homes priced $450,000 before HST or higher would not receive a rebate.



In the GTA, most builders include the HST in the price of the house, and any rebate would be assignable to the builder as they would be absorbing the net HST cost.

Featured Listings

19 Devon Rd,  E5173673, Toronto,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Amazing Opportunity To Live In High Demand Beach Hill,Upper Beaches Neighborhood. This 2-Bedroom Detached Home Is Ready To Be Renovated To Your Taste Or Build Your Dream House.Drawing For A 3 Story Modern House Submitted To City And Are Available By Request.Underpinning Permit Is Ready .Steps To Transit,Parks,Schools,10-Min Walk To Subway,15-Min Walk To Danforth Go & Short Walk To The Beaches! Great Potential, Don't Miss Out!

View 19 Devon Rd

Featured Listings

128 Birch Ave,  N5189933, Richmond Hill,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

***South Richvale Most Desirable Area Of Richmond Hill, Huge Backsplit 5 Lot ( 52' X 258' Ft) Surrounded By Multi-Million Dollar Homes. This Property Is Perfect For Investors, End-Users And Builders, Remodel Or Build Your Dream House!! Spacious Detached 4 Bedroom Home With Finished Bsmt With Huge Windows, Kitchen & Sep Entrance. Committee Pof Adjustment Approved,Architectural Dwgs Available For Over 5,000 Sq Ft. New Survey Is Available **Seller Is Is Rreb**

View 128 Birch Ave

Featured Listings

1606 - 2900 Highway 7 Rd,  N5186618, Vaughan,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Expo 1 Prestigious, Luxury Tower Condominium In Vaughan. Minutes To Public Transit, Access To Hwy 400,407 And Hwy 7. Nearby Shopping, Entertainment & Restaurants. Spacious 1 Bedroom Plus Den Layout/ Two Washrooms. 775 Sq.Ft Interior + 172 Sq.Ft Balcony To Enjoy. 9 Ft Ceilings With Floor To Ceiling Windows, Large Master Bedroom With Ensuite, Kitchen With Stainless Steel Appliances & Granite Counters. Move In And Experience This Great Location!

View 1606 - 2900 Highway 7 Rd

Featured Listings

1909 - 1 Palace Pier Crt,  W5199187, Toronto,  for sale, , ZENY MANINANG, HomeLife/Bayview Realty Inc., Brokerage*

Breathtaking Views Of Lake Ontario***Completely Renovated To Perfection*** In Sought After "Palace Place". Luxury Resort Like Living With Executive Class Amenities: Valet Parking , Shuttle To Downtown And Stores, 24/7 Concierge, Indoor Pool & More!!! Quality Finishes With Detailed Workmanship Throughout; Custom Cabinetry, Wood Floors, Tiles, Counters, Fixtures, Trim Work, Doors Plus More!!! Must See!!!

View 1909 - 1 Palace Pier Crt

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