Image by Alexander Stein from Pixabay

As an entrepreneur, Alex Leduc says it would be tough for him to qualify for a mortgage. But even if he were buying a home under today’s conditions, the 28-year-old founder of an online mortgage platform says he wouldn’t necessarily use Canada’s First-Time Home Buyer Incentive (FTHBI) — a shared-equity program the federal Liberals have pledged to expand in expensive cities such as Toronto.

The program could help some buyers lower their monthly mortgage payments. But with property prices still rising in the Toronto area and interest rates remaining at historic lows, Leduc says buyers have to consider carefully whether they want to repay 5 or 10 per cent of their home’s increased value when it comes time to sell.

Continue to read on: The Star