Ottawa Announces Secondary Suite Incentive Program for Homeowners

Ottawa Announces Secondary Suite Incentive Program for Homeowners
Deputy Prime Minister and Minister of Finance Chrystia Freeland responds to a question during a news conference in Ottawa on Feb. 27, 2024. The Canadian Press/Adrian Wyld
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In a bid to “unlock new housing supply,” Ottawa is including a program in Budget 2024 that allows homeowners to access up to $40,000 in low-interest loans to add a secondary suite to their homes.

Dubbed the Canada Secondary Suite Loan Program, the initiative will be administered by the Canada Mortgage and Housing Corporation, the federal government announced April 14.