Buying your first home is one of the most exciting milestones in life - but it can also be overwhelming. With rising property prices, strict lending rules, and complex processes, many first-time buyers in Winnipeg wonder how to make homeownership a reality. Fortunately, there are several federal, provincial, and local programs available in 2025 designed to help ease the financial burden and open doors to your first home.
Whether you’re buying a downtown condo or a suburban family home, this guide will walk you through the most relevant benefits and programs for first-time home buyers in Winnipeg.
1. First-Time Home Buyer Incentive (FTHBI)
What is it?
The First-Time Home Buyer Incentive is a shared-equity mortgage program from the Government of Canada. It allows eligible buyers to borrow 5% or 10% of a home’s purchase price from the government to reduce monthly mortgage payments.
Key 2025 Updates:
- Income eligibility has been increased to $150,000.
- Maximum mortgage limits for Winnipeg have been adjusted to reflect local market prices.
- Buyers repay the incentive when they sell the property or after 25 years - whichever comes first.
Who qualifies?
- Must be a first-time home buyer.
- Household income must be under $150,000.
- Total borrowing must not exceed 4.5 times your household income.
Winnipeg-specific tip:
This program can be especially useful in Winnipeg’s stable housing market, where average home prices remain more accessible than in other major Canadian cities.
2. First Home Savings Account (FHSA)
What is it?
Launched in 2023, the First Home Savings Account (FHSA) is a tax-free savings account designed for prospective first-time buyers. You can contribute up to $8,000 annually, with a lifetime limit of $40,000.
Benefits:
- Contributions are tax-deductible, similar to an RRSP.
- Withdrawals for a first home purchase are tax-free, like a TFSA.
- Can be combined with the Home Buyers' Plan (HBP).
2025 Tip:
The FHSA is still relatively new, so talk to your financial advisor or mortgage broker about maximizing both FHSA and RRSP benefits before buying.
3. Home Buyers’ Plan (HBP)
What is it?
The Home Buyers’ Plan lets you withdraw up to $35,000 from your RRSP to use toward your home purchase - tax-free. If you're buying with a partner, you can both withdraw for a combined $70,000.
Repayment:
You must repay the withdrawn amount over 15 years, starting two years after your purchase.
Pro Tip:
Use the HBP in combination with the FHSA to maximize your down payment and reduce your mortgage size.
4. Manitoba Land Transfer Tax Rebate (Updated for 2025)
In Manitoba, buyers are required to pay a Land Transfer Tax (LTT), which can add a significant cost to your purchase. However, first-time home buyers may qualify for partial rebates or exemptions, depending on income and property value.
2025 Update:
The province has introduced a First-Time Home Buyers’ Land Transfer Tax Rebate, offering up to $2,000 for eligible buyers.
Applies to homes under $500,000.
Must apply within 6 months of your purchase.
Eligibility:
You (and your spouse or partner) must not have owned a home before.
Must use the property as your primary residence.
5. GST/HST New Housing Rebate
If you're buying a newly built home or significantly renovating an existing one, you may be eligible for a partial rebate of the GST or federal portion of the HST.
Key Details:
Home must be new or substantially renovated.
The home’s value must be under $450,000 to receive a full rebate.
Partial rebates are available for homes valued between $350,000 and $450,000.
2025 Update:
Check with the Canada Revenue Agency (CRA) or your builder, as new rebate structures may apply to energy-efficient homes or green buildings.
6. CMHC Mortgage Loan Insurance Discount
If your down payment is under 20%, you’ll need mortgage loan insurance through CMHC or a private insurer. But in 2025, energy-efficient homes may qualify for up to 25% off the insurance premium through the CMHC Green Home Program.
Winnipeg Tip:
Consider newer developments or certified energy-efficient homes to take advantage of this discount and reduce long-term costs.
7. Local Grants & Financial Support in Winnipeg
While Winnipeg doesn't currently offer direct cash incentives, there are community housing programs and non-profits that assist lower-income first-time buyers.
Examples include:
SEED Winnipeg – Offers financial literacy programs and matched savings.
Manitoba Housing – Provides affordable housing and rent-to-own programs.
Habitat for Humanity Manitoba – Offers an affordable home ownership model for families who qualify.
Am I a First-Time Home Buyer?
To qualify for most of these programs, you must meet the Canada Revenue Agency’s definition of a first-time buyer, meaning:
- You have not owned a home (or your spouse has not) in the past 4 years.
- You are purchasing a primary residence in Canada.
- You are a Canadian citizen or permanent resident.
Final Thoughts: Make the Most of What’s Available
The journey to homeownership in Winnipeg doesn’t have to be financially overwhelming. By taking advantage of the programs, rebates, and tax benefits available in 2025, first-time buyers can significantly reduce their upfront costs and monthly expenses.
Before making a move:
Consult a mortgage broker familiar with Winnipeg’s market.
Speak with a real estate agent who understands first-time buyer needs.
Ask about bundling multiple programs, like the FHSA + HBP + FTHBI, for maximum benefits.
With smart planning, owning your first home in Winnipeg can be more affordable - and achievable - than you think.
Thinking about buying your first home in Winnipeg?
let's work together to find the right property and make sure you get every advantage you qualify for!
Contact Manjot Singh, your trusted Winnipeg Realtor, today!
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