First-Time Home Buyer Mortgages in Canada

Take advantage of every Canadian first-time buyer program available — CMHC insurance with 5% down, the First Home Savings Account, Home Buyers' Plan RRSP withdrawals, and provincial rebates. We make sure you don't leave money on the table. Our team walks you through the entire process from pre-approval to possession day, explaining each step in plain language so you feel confident and informed. With access to 50+ lenders, we negotiate the best rate and terms for your first purchase while ensuring you claim every incentive and rebate available in your province.

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For First-Time Buyers

Every Program, Every Rebate, Every Advantage

Canada has more first-time buyer incentives than most people realize. Between the FHSA, HBP, provincial rebates, and the First-Time Home Buyer Incentive, you could save tens of thousands. We make sure you access all of them.

Minimum Down

$35K

RRSP Withdrawal (HBP)

$40K

FHSA Savings Limit

50+

Lender Options

First-Time Buyer Incentive

The federal government's shared-equity program provides 5% of an existing home's purchase price or 5-10% for a new build as a down payment boost. No monthly payments are required — you repay the shared equity when you sell the home or after 25 years.

Home Buyers' Plan (HBP)

Withdraw up to $35,000 tax-free from your RRSP for your down payment — couples can withdraw $70,000 combined. You repay the amount over 15 years starting in the second year after withdrawal, essentially giving yourself an interest-free loan.

FHSA Guidance

The First Home Savings Account lets you contribute up to $8,000 per year to a lifetime maximum of $40,000, with contributions that are tax-deductible like an RRSP and withdrawals that are tax-free like a TFSA.

CMHC Insurance Expertise

With as little as 5% down, we secure CMHC, Sagen, or Canada Guaranty mortgage insurance — comparing premiums across all three insurers to minimize your cost.

Land Transfer Tax Rebates

First-time buyers in Ontario save up to $4,000 on land transfer tax, and BC offers an exemption on homes up to $500,000 with partial relief up to $525,000. Prince Edward Island, Toronto, and other jurisdictions offer additional savings.

Step-by-Step Support

From pre-approval through possession day, we guide you through every step of your first home purchase. Our team explains the offer process, conditions, home inspections, financing timelines, and closing costs in plain language.

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Eligibility

First-Time Buyer Requirements

To qualify as a first-time home buyer in Canada and access the available incentive programs, you need to meet specific criteria. Here is what lenders and government programs require, and how we help you maximize every benefit.

Requirements

You must not have owned a home in which you lived at any time during the current year or the preceding four calendar years to qualify as a first-time buyer
Minimum down payment of 5% for homes under $500,000, with 10% required on the portion between $500,000 and $1,499,999
Minimum credit score of 600 for A-lender insured mortgage approval, with alternative options for lower scores
Must pass the federal mortgage stress test by qualifying at the higher of your contract rate plus 2% or the Bank of Canada qualifying rate
Proof of stable income through employment letters, T4 slips, and Notice of Assessment from the CRA
Gross Debt Service (GDS) ratio at or below 39% and Total Debt Service (TDS) ratio at or below 44%
Canadian citizen or permanent resident status with valid government-issued identification

How We Help

We ensure you claim every available program — FHSA, HBP, First-Time Home Buyer Incentive, and all provincial land transfer tax rebates
Our pre-approval process takes 24-48 hours and locks in your rate for up to 120 days while you search for the right home
We compare mortgage insurance programs to find the lowest cost for your down payment level
If your credit needs work, we create a targeted improvement plan with specific steps to reach the 600 threshold before you apply
We provide a detailed closing cost estimate customized to your province so you know exactly how much cash you need beyond the down payment
Our team explains the entire purchase process — from making an offer to setting conditions, arranging inspections, and closing with your lawyer
We coordinate with your realtor and lawyer at every stage to ensure timelines are met and your purchase closes smoothly

FAQ

Questions About First-Time Buyer Programs

Everything you need to know about buying your first home in Canada.

Down Payment & Programs

First-time buyers can purchase with as little as 5% down on homes under $500,000. For homes between $500,000 and $1,499,999, you need 5% on the first $500,000 and 10% on the remainder. Homes $1.5 million or more require 20% down.

The FHSA is a registered account that lets first-time buyers save up to $8,000 per year (max $40,000 lifetime) tax-free. Contributions are tax-deductible and withdrawals for a qualifying home purchase are tax-free.

The HBP allows first-time buyers to withdraw up to $35,000 from their RRSP ($70,000 for a couple) tax-free for a down payment. You have 15 years to repay the amount back to your RRSP.

Costs & Savings

Budget 1.5-4% of the purchase price for closing costs. These include legal fees, land transfer tax (with first-time buyer rebates), home inspection, title insurance, and appraisal fees.

Yes, you can use both programs simultaneously for the same home purchase. A couple could potentially access up to $150,000 in combined tax-advantaged down payment funds.

Qualification & Buying

Most A-lenders require a minimum credit score of 600 for insured mortgages. If your score is lower, B-lender and alternative programs are available with slightly higher rates.

Your maximum purchase price depends on your income, debts, down payment, and the current qualifying rate. Canadian lenders use the stress test to determine your qualification.

The right choice depends on your budget and lifestyle. Condos typically have a lower purchase price but come with monthly condo fees that affect your qualification.

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