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The federal government is trying to give first time home buyers a break.

Families Minister Jean-Yves Duclos was in Montreal Friday to announce the details of Canada's first-time home buyer incentive. 

It aims to help middle-class families purchase a home by helping them to reduce their monthly mortgage payments.

The government will offer an interest-free loan of 5 per cent for an existing home and up to 10 per cent for a new build, though it's only available to those with an annual household income of $120,000 or less.

“It's also designed to protect the risk of owning a first-time home, so the total mortgage cannot be larger than four times the household income but then comes CMHC with help to middle-class families that reduce the cost and the risk of buying a first-time property. So it's designed really to help those struggling middle-class Canadians when it comes to buying a first time home,” said Duclos.

The program launches on July 31.