Some of the Key Points in CMHC’s new first time home buyer incentive program Eligibility requirements To be eligible for the home buyers incentive at least one borrower must be a first time home buyer. This means you can not have owned or lived in a home owned by your spouse in the last 4 years. You have never owned a home before. You may also qualify as a first time home buyer if you have gone through a breakdown of marriage or common law partnership. In addition to being a first time home buyer they have some other eligibility requirements. Annual income must be $120000. The mortgage…