The Home Buyers' Plan lets a first-time buyer withdraw up to $60,000 from an RRSP toward a down payment, repaid over 15 years, while the Canada Mortgage and Housing Corporation sets the mortgage insurance rules that apply once the down payment falls under 20 percent. The First Home Savings Account adds a deductible contribution of up to $8,000 a year to a lifetime limit of $40,000, with tax-free withdrawal.
None of these programs are specific to Hampton Village, but where a buyer lands matters for how far the down payment stretches, since a family suburb like Hampton Village typically means a larger home for the same budget than a central neighbourhood.
Combining the right accounts with the right neighbourhood is what actually changes what a first-time buyer can afford. Get your hand-reviewed valuation from Joel Dyck.