The First-Time Home Buyer Incentive (FTHBI) is a CMHC program meant to lower mortgage payments, interest expense and default insurance costs for eligible first-time homebuyers. The program provides 5% or 10% of the home's purchase price to put towards a down payment, thus reducing the loan amount, interest cost and default insurance fees. In exchange, CMHC gets a corresponding equity share in the property. The agency then participates in up to 8% of gains or losses in a given year, payable when the property is sold or 25 years, whichever comes first.

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