First-time home buyer
mortgage — every program,
stacked for you.
5% down, FHSA, RRSP Home Buyers’ Plan, and up to $8,475 in Ontario + Toronto land transfer rebates. One advisor from pre-approval to keys.
First-time home buyers in Canada can put as little as 5% down on homes under $500,000 (10% on the portion between $500k–$999,999) with CMHC mortgage insurance. The First Home Savings Account (FHSA) lets you contribute $8,000/year (up to $40,000 lifetime) tax-deductibly. Ontario first-time buyers also receive a provincial land transfer tax rebate up to $4,000 — and $4,475 in Toronto.
Stack every program
you qualify for.
Two spouses using all four programs can combine $200,000 in tax-advantaged down payment before they spend a dollar of after-tax savings.
First Home Savings Account
Contribute up to $8,000/year to a $40,000 lifetime maximum. Deductible like an RRSP going in, completely tax-free coming out — the only Canadian account that does both.
RRSP Home Buyers' Plan
Withdraw up to $60,000 from your RRSP for a first home, repaid interest-free over 15 years. Stack it with the FHSA — they are not mutually exclusive.
30-Year Insured Amortization
All first-time buyers can now extend to 30 years on insured purchases. Lower monthly payment, higher total interest — we model the tradeoff before you choose.
Ontario + Toronto Rebates
Ontario rebates up to $4,000 and Toronto rebates up to $4,475 for eligible first-time buyers. We handle the paperwork so nothing is left on the table at closing.
Pre-approval to keys —
three steps.
Lock a rate, shop with confidence, and close with no surprises. Your advisor stays with you end-to-end.
Start your pre-approval
5-minute intake, no credit pull to begin. When you're ready, one lender credit check locks your stress-tested maximum, holds your rate up to 120 days, and maps your full down-payment stack — FHSA, HBP, gifted funds.
House hunt with confidence
Shop inside your real budget, not an inflated bank estimate. Your advisor is on speed-dial when an offer goes in and conditions need to clear in 48 hours.
Close — and start tracking
Lawyer-ready package, condition coordination, lender follow-through. After funding, the in-app tracker shows your equity grow and pings you 120 days before renewal.
We can help
whatever your story.
Tap any situation below to see how we approach it.
If you’re…You're self-employed or own a business
You're self-employed or own a business
Full-document business-for-self and stated-income paths are available through specialist A and B lenders. Two years of NOAs and T1 Generals is the standard; we know which lenders are most lenient on your income story.
Start my pre-approvalIf you’re…You're new to Canada with limited Canadian credit
You're new to Canada with limited Canadian credit
Newcomer programs accept international employment history and limited Canadian bureau. Some lenders require 3–6 months of residency; others approve on a valid work permit from day one.
See newcomer optionsIf you’re…Part of your down payment is a gift from family
Part of your down payment is a gift from family
Gifted funds are accepted by all major A-lenders with a signed gift letter. We draft the letter correctly so the lender doesn't flag it on review — a common delay we eliminate upfront.
Start my applicationIf you’re…You're on parental or maternity leave
You're on parental or maternity leave
Most lenders qualify you on your confirmed return-to-work salary with a letter from your employer. We know which lenders accept which documentation — critical when leave income would otherwise disqualify you.
See parental leave optionsIf you’re…You're a doctor, dentist, or medical resident
You're a doctor, dentist, or medical resident
Specialty programs qualify you on signed contract income — not what you've actually earned yet. Residents and new grads can qualify on their employment contracts before their first paycheque.
See professional programsIf you’re…You want to buy a duplex and offset the mortgage with rent
You want to buy a duplex and offset the mortgage with rent
Owner-occupied multi-unit purchases (up to 4 units) qualify for insured financing at 10% down. Rental income from the units offsets the mortgage — we structure the file to maximise what lenders count.
Model my duplexFHSA vs. RRSP HBP
vs. the discontinued FTHBI.
Two of these are live and stack with each other. The third is gone — and is still the most common thing first-time buyers ask us about.
| Program | Limit | Tax treatment | Repayment | Status |
|---|---|---|---|---|
| FHSA — First Home Savings Account | $8,000/yr · $40,000 lifetime | Deductible in, tax-free out — unique in Canada | None | Live |
| RRSP Home Buyers' Plan (HBP) | $60,000 withdrawal per person | Deductible in; withdrawal is tax-free | Over 15 years to your RRSP | Live — stacks with FHSA |
| 30-Year Insured Amortization | Insured purchases up to $1.5M | Not a tax program — lowers payments, raises interest | None — it's a mortgage term | Live since Dec 15, 2024 |
| First-Time Home Buyer Incentive (FTHBI)Ended | Was 5%–10% government shared equity | Not a tax program — government took a home stake | At 25 years or on sale, indexed to home value | Discontinued March 21, 2024 |
Both the FHSA and the HBP are individual accounts — two spouses can each use both. Nothing replaced the FTHBI one-for-one; the 30-year amortization is a separate reform. We model the optimal order before you withdraw a dollar.
Common questions,
clear answers.
FHSA, stress test, down payment, rebates, and pre-approval — answered plainly.
How much down payment do I need as a first-time buyer in Canada?
Minimums: 5% on the first $500,000 of the purchase price and 10% on the portion from $500,000 to $1.5M. At $1.5M or more, default insurance isn't available, so you need 20% of the whole price. Below 20% means a CMHC, Sagen, or Canada Guaranty premium financed into the mortgage. We model both insured and uninsured paths for every file — sometimes the insured option saves more in lifetime interest than 20% would.
Is the First-Time Home Buyer Incentive still available?
No. The federal First-Time Home Buyer Incentive — the shared-equity program where the government took a 5% or 10% stake in your home — was discontinued. CMHC stopped accepting new applications at midnight on March 21, 2024 and granted no new approvals after March 31, 2024. What changed in first-time buyers' favour since: the FHSA (introduced 2023), and effective December 15, 2024, 30-year insured amortizations for all first-time buyers plus an insured price cap of $1.5 million.
What is the FHSA and should I use it?
The First Home Savings Account is the most powerful first-time-buyer programme Canada has introduced in a generation. Contribute up to $8,000/year (max $40,000 lifetime), get a tax deduction like an RRSP, and withdraw tax-free for a qualifying first home like a TFSA. For most first-time buyers in their working years it's the single best down-payment vehicle.
Can I combine the FHSA with the RRSP Home Buyers' Plan?
Yes — they stack. The HBP allows you to withdraw up to $60,000 from your RRSP for a first home, repaid over 15 years tax-free. Two spouses can each use both, so the household can pull up to $200,000 of tax-advantaged down payment. We'll model the optimal sequence — which account to deplete first — for your tax situation.
What is the Canadian stress test?
Federally regulated lenders qualify you at the greater of your contract rate plus 2% or 5.25%. For example, an illustrative 4.39% offered rate qualifies you at 6.39%. That qualifying rate, not your real rate, sets your maximum mortgage. We simulate your file at the qualifying rate before you ever write an offer, so you shop inside a number that will actually fund.
How long does a pre-approval and rate hold last?
Most lenders hold rates for 90 to 120 days. If rates drop during your hold, many lenders will honour the lower rate, and if yours won't, we can re-shop the file. If rates rise, your hold protects you. Pre-approvals can be re-issued if you go beyond the window.
Will pre-approval hurt my credit?
Pre-qualification with us is a soft inquiry with no credit impact. A formal pre-approval adds one hard inquiry. Its effect on your score is usually small and fades within months. Mortgage inquiries made while rate-shopping within a short window are generally scored as one.
What if I'm self-employed or new to Canada?
We have specialised lenders and programs for both. Self-employed files use full-document, insured business-for-self or stated-income paths. Newcomers can use lender newcomer programs that accept international employment history and limited Canadian credit.
What are the full first-time costs beyond the down payment?
Plan for the whole stack. If you put under 20% down, the default insurance premium is added to your loan. Then land transfer tax: in Ontario you pay provincial LTT, and inside Toronto a second municipal LTT. As a first-time buyer you can claim the Ontario rebate (up to $4,000) and the Toronto rebate (up to $4,475). Then closing costs — legal fees, title insurance, inspection, appraisal. Budget roughly 1.5% to 4% of the price.
How much can I afford on my income?
Lenders cap your housing costs at roughly 39% of gross income (GDS) and all debts at roughly 44% (TDS), calculated at the stress-test qualifying rate. Your down payment and existing debts shift the result. Run our affordability calculator for an estimate, and the stress test calculator for the binding number.
We’ll try to beat your rate.
If we can’t, we pay you $500.¹
¹ Rate Beat: eligible Big-6 bank written offers only · same product, term & amount · $500 paid to you or your nominated charity at closing · conditions apply
First-time buyer help by city
FHSA and the RRSP Home Buyers' Plan work the same everywhere. What doesn't is the number you need — the tiered minimum down payment against your local price band, the land transfer tax you'll owe on closing, and how much of it the first-time-buyer rebate actually covers where you're buying.