This is a page from the 2021 Canadian federal election.

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Mortgages

Liberal

  • Allow people using the First Time Home Buyer Incentive to choose between a shared-equity approach & a loan that is repayable at time of sale.
  • Reduced the price charged by CMHC on mortgage insurance by 25%.
  • Increase the insured mortgage cut-off from $1M to $1.25M, & index it to inflation.

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Conservative

  • Encourage a new market in seven- to ten-year mortgages.
  • Remove the stress test requirement when a homeowner renews a mortgage with another lender.
  • Increase the limit on eligibility for mortgage insurance and index it to home price inflation.
  • Reform the mortgage stress test.

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NDP

  • Re-introduce 30-year terms on CMHC insured mortgages on entry-level homes for first time home buyers.
  • Double the Home Buyer's Tax Credit to $1,500.
  • Provide resources to help co-housing, including CMHC-backed co-ownership mortgages.

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