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First Home Guide — start here
Step-by-step Canadian first-time buyer path: readiness, down payment, FHSA, and closing.
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Down payments and mortgage types
How much you need down, insured vs conventional, and how lenders price a first purchase.
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Stress test for first-time buyers
What OSFI B-20 means for a new purchase and how it changes your maximum approval.
Every Program, Every Rebate, Every Advantage
Canada has more first-time buyer incentives than most people realize. Between the FHSA, HBP, 30-year amortization for all first-time buyers and new-build buyers, the $1.5M insured mortgage cap, and provincial rebates, you could save tens of thousands. We make sure you access all of them.
30-Year Amortization
All first-time home buyers — whether purchasing new builds or resale homes — can now access 30-year insured amortizations, reducing monthly payments and improving affordability. Non-first-time buyers purchasing new builds also qualify. These changes took effect December 15, 2024.
Home Buyers' Plan (HBP)
Withdraw up to $60,000 tax-free from your RRSP for your down payment — couples can withdraw $120,000 combined. You repay the amount over 15 years starting five years 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 a full property transfer tax exemption on homes up to $835,000 with partial relief up to $860,000. 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.
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 the first $500,000, with 10% required on the portion between $500,000 and $1,499,999. Homes at $1.5M or above require 20% down
- 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, 30-year amortization eligibility, 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
Questions About First-Time Buyer Programs
Everything you need to know about buying your first home in Canada.
Qualification & Buying
Down Payment & Programs
Down Payment & Programs (Continued)
Costs & Savings
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