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.

Jennifer Cowan
Jennifer Cowan
Author
Jennifer Cowan is a writer and editor with the Canadian edition of The Epoch Times.