Everything you need to know about buying your first home - from saving for a down payment to getting the keys to your dream home.
Everything you need to navigate your first home purchase with confidence
In Ontario, the minimum down payment depends on the purchase price of your home. Understanding these requirements is the first step to homeownership.
The FTHBI offers 5% or 10% of the home's purchase price towards your down payment. This reduces your mortgage amount and monthly payments.
The HBP allows you to withdraw up to $60,000 from your RRSPs to put toward your down payment - without paying tax on the withdrawal.
First-time home buyers in Ontario can receive a refund of up to $4,000 on the provincial land transfer tax. Toronto buyers can also get up to $4,475 from the municipal rebate.
You may qualify for both provincial ($4,000) and Toronto ($4,475) rebates for a total savings of up to $8,475!
Before house hunting, get mortgage pre-approval to know your budget and show sellers you're serious.
Work with a licensed agent who knows your target neighborhoods and can negotiate on your behalf.
View properties that match your criteria and budget. Take your time to find the right home.
Submit a competitive offer with your agent's guidance. Be prepared for negotiations.
Get a professional inspection and the lender will order an appraisal to verify the value.
Submit all final documents for mortgage approval and finalize your rate.
Meet with your lawyer, sign documents, get your keys, and move into your new home!
You might fall in love with a home you can't afford, or lose out because you weren't prepared to move quickly.
Buying a car or furniture on credit can affect your debt ratios and jeopardize your mortgage approval.
Closing costs typically run 1.5-4% of the purchase price. Budget for these in addition to your down payment.
A $500 inspection can save you from thousands in unexpected repairs. Never skip this step.
Terms, penalties, prepayment options, and portability matter as much as the rate. Look at the full picture.
Let's discuss your situation and get you pre-approved. I'll guide you through every step of the process.
Book a time that works for you and let's discuss your mortgage needs.
