Bill C-4 DOES NOT:

1. Does not directly lower mortgage rates

2. Does not affect your refinancing.

3. Does not affect your exisiting mortgage for renewal.

Bill C-4 Applies to:

• Eligible first-time buyers.
• Can recover up to 100% of the GST, on a new home priced up to $1 million.
• For homes priced between $1 million and $1.5 million, the rebate is reduced on a sliding scale. A home priced at $1.25 million, for example, is eligible for a 50% rebate, which is up to 25,000.
• No rebate is available at or above $1.5 million.

Requirements:

• Buyer must be 18 years or older, Canadian citizen or permanent resident.
• First Time Home Buyer only;
• Purchase is for principal residence use only;
• Purchase is from builder, owner-built home, and certain co-op housing

• Other eligibility requirements for the New Housing Rebate, such as purchaser must be acquiring the new home for use as their primary place of residence.