First Time Home Buyer Mortgage Ontario
Access up to $8,475 in land transfer rebates. Maximize your FHSA & RRSP Home Buyers' Plan.
Expert guidance, the best rate from 40+ lenders, and help maximizing every first-time buyer program available — all completely free.
Get Pre-Approved in 24-48 Hours
Takes 30 seconds · No obligation · 100% free
Newcastle Financial Corporation · FSRA Brokerage Lic. #13522
Ontario First-Time Buyer Programs & Incentives
Most first-time buyers leave thousands on the table by not using all available programs.
First Home Savings Account (FHSA)
Tax-deductible contributions + tax-free withdrawals. The best first-time buyer savings tool available. Contribute up to $8,000/year.
RRSP Home Buyers Plan
Withdraw up to $35,000 per person from your RRSP tax-free for a first home. Repay over 15 years.
Ontario Land Transfer Tax Rebate
Ontario rebates the provincial land transfer tax for first-time buyers up to a maximum of $4,000.
Toronto Land Transfer Tax Rebate
Toronto buyers get an additional municipal land transfer tax rebate. Combined with provincial, save up to $8,475 total.
First-Time Home Buyer Incentive (FTHBI)
Government contributes 5-10% toward your purchase, reducing monthly payments. You share future appreciation.
GST/HST New Housing Rebate
If buying a newly built home in Ontario, you may qualify for a rebate on the HST paid, up to $24,000.
Your First Home Purchase — Step by Step
Get Pre-Approved First
Before you start searching, know exactly how much you can afford. We get you pre-approved in 24-48 hours from 40+ lenders — free, no credit score impact.
Maximize Your Down Payment
We help you combine your FHSA, RRSP Home Buyers Plan, and personal savings to maximize your down payment and minimize mortgage insurance premiums.
House Hunt with Confidence
With a pre-approval letter in hand, sellers take your offer seriously. You know your budget, your monthly payment, and your closing costs upfront.
We Shop 40+ Lenders for Your Best Rate
Once you have an accepted offer, we compare all lenders to find you the lowest rate and best terms for your situation.
Claim All Your Rebates at Closing
We ensure you claim the Ontario and Toronto land transfer tax rebates at closing — this happens automatically through your real estate lawyer.
Documents Needed for a First-Time Buyer Mortgage
Employment Income
- 2 most recent pay stubs
- T4 slips from last 2 years
- Employment letter (salary, start date, position)
- 90-day bank statements
Identity & Assets
- Government-issued photo ID (passport or driver's license)
- Proof of down payment source (90-day history)
- RRSP or FHSA statements (if using for down payment)
- Gift letter (if receiving a gift from family)
What Our First-Time Buyers Say
“As first time home buyers, my wife and I had an amazing experience with Amit! He helped us secure a great rate as well as walk us through every single step in securing our first home together. He provided us with daily updates.”
Tuan Zufar Amidon
Google Review
“We had an amazing experience working with Amit. As first time home buyers we weren't too familiar with the process but Amit made everything so seamless and efficient and was with us every step of the way. We highly recommend Amit as he was very professional, knowledgeable and efficient at what he does!”
Delaan Satkunarajah
Google Review
You're in Good Hands
Our team of licensed Ontario mortgage brokers has helped hundreds of first-time buyers navigate the process — from pre-approval to keys in hand. We work for you, not the bank.
- Licensed with FSRA (Brokerage #13522)
- Access to 40+ lenders across Canada
- Free service — lenders pay our fee
- Dedicated broker from start to close
First-Time Buyer FAQ — Ontario
How much down payment do I need as a first-time home buyer in Ontario?
In Ontario, the minimum down payment is 5% for homes under $500,000, 5% on the first $500,000 plus 10% on the portion above $500K for homes up to $999,999, and 20% for homes $1M+. Most first-time buyers in Toronto use 5-10% down.
What is the First Home Savings Account (FHSA)?
The FHSA lets first-time buyers contribute up to $8,000/year (lifetime max $40,000) in tax-deductible savings specifically for a home purchase. Withdrawals for a qualifying home purchase are tax-free — better than the RRSP Home Buyers Plan.
Can I use my RRSP to buy my first home in Ontario?
Yes. The RRSP Home Buyers Plan lets you withdraw up to $35,000 tax-free from your RRSP for a first home purchase. Couples can withdraw up to $70,000 combined. You repay it over 15 years.
What is the first-time home buyer land transfer tax rebate in Ontario?
Ontario provides a rebate of up to $4,000 on provincial land transfer tax for first-time buyers. Toronto buyers also get a municipal land transfer tax rebate of up to $4,475. Combined, you can save up to $8,475 in land transfer taxes.
What credit score do I need for a first-time buyer mortgage in Ontario?
Most lenders require a minimum credit score of 680 for insured mortgages (under 20% down). Some lenders accept 650, and alternative lenders go lower. We work with 40+ lenders to find your best option regardless of credit score.
How long does it take to get mortgage pre-approval as a first-time buyer?
We can typically get you pre-approved within 24-48 hours. You'll need: 2 recent pay stubs, T4s from the last 2 years, 90-day bank statements, photo ID, and employment letter. We guide you through every document.
Does using a mortgage broker cost me anything?
No. Our service is completely free to you. Lenders pay us a finder's fee. You get access to 40+ lenders and expert advice at zero cost.
Ready to Buy Your First Home?
Free expert guidance. Best rate from 40+ lenders. Every rebate and program maximized.
Rates, terms, and availability vary by lender and are subject to change without notice. Actual results depend on individual financial circumstances, credit profile, and lender criteria. Newcastle Financial Corporation is a licensed mortgage brokerage (FSRA #13522).