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Home ownership

Liberal

  • Introduce a new First-Time Home Buyer Incentive giving up to 10% off the purchase price of a first home.
  • Increase the qualifying value to nearly $800,000 in places where houses cost more.

Conservative

  • Modify the mortgage stress test to ensure first-time homebuyers aren't unnecessarily prevent from accessing mortgages.
  • Remove the stress test from mortgage renewals.
  • Increase amortization periods to 30 years for first-time homebuyers.

NDP

Introduce 30-year terms to CMHC insured mortgages on entry-level homes for first-time home buyers, while doubling the Home Buyer's Tax Credit to $1,500.

Green

Eliminate the first-time home buyer grant.