Feds propose loan program for secondary suites [Investment Executive - News]
Cabot Corporation (CBT)
Last cabot corporation earnings: 2/3 04:16 pm
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Source: Investment Executive - News
Homeowners looking to add a secondary suite to their properties could soon access up to $40,000 in low-interest loans as part of a proposed federal program. The loan program is part of a series of pre-budget housing measures the federal government announced last week, including a boosted withdrawal limit to the home buyers plan and a proposed 30-year mortgage amortization for first-time home buyers who purchase newly built homes. Ottawa said the secondary suite loan program will help increase housing density to make the most of available space in communities across the country. “Many Canadians, such as retirees who own their homes, or younger families who want their parents to move in to live close by, might want to add a unit to their home,” Finance Minister Chrystia Freeland said in a release Monday. “Through our Housing Accelerator Fund, we’ve already reformed zoning to make this possible, and today, we’re announcing homeowners will soon be able to access up to $40,000 in low-
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