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Mortgage Squad Advisors
Toronto · OntarioFirst-time buyer

First-time buyer mortgages in Toronto.

5% down. FHSA + RRSP HBP stacked. Pre-approval in 24 hours. Canada's largest mortgage market — multi-tiered, multi-cultural, lender-rich.

5% downFHSAHBPFTHB rebate
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5-star rated| FSRA #13737| 50+ languages
Quick scenario · Toronto
On a $1,150,000 Toronto home
Down payment
5% — min for first-time buyer mortgages
$57,500
Insurance premium
4.00% CMHC/Sagen/CG · financed
$43,700
Mortgage amount
At 4.09% · 30-yr amort
$1,136,200
ON + Toronto MLTT
Provincial closing cost
$38,950
Est. monthly payment
Principal + interest only
$5,461/mo
Illustrative only. Actual rate, qualifying amount, and premium depend on your file. Get an exact number with a senior advisor or Maya AI.
First-time buyer mortgages in Toronto — the local picture

Toronto's benchmark price sits around $1,150,000 (Ontario, population ~3.0M). First-time buyers targeting entry stock in Downtown Core or Etobicoke can pair the FHSA and RRSP Home Buyers' Plan against Toronto's $1,150,000 benchmark — at minimum down that's a $57,500 down payment and roughly $5,461/mo principal + interest at 4.09%, plus the Ontario land-transfer rebate where eligible.

All mortgages in Toronto| First-time buyer mortgages guide| Down payment calculator
Down payment min
5%
On insured mortgage, first $500K
FHSA room
$40K
Tax-deductible + tax-free withdrawal
RRSP HBP
$60K
Per spouse, repay over 15 yrs
Pre-approval
24 hr
Soft credit only
Why Toronto clients choose us

First-time buyer mortgages — built for Toronto.

Same licensed-brokerage standard. Same 100+ lender network. Same dedicated advisor model — applied to GTA's specific lender appetites and property types.

5% down on the first $500K, 10% on the portion to $1.5M (insured)
FHSA contributions stacked with RRSP Home Buyers' Plan
First-time home buyer land transfer tax rebates handled
120-day rate hold so you can house-hunt without rate-risk
Stress-test simulation BEFORE you offer so there's no surprise
CMHC, Sagen, or Canada Guaranty — we shop all three insurers
Direct lender access at all Big-6 banks + monolines + credit unions
Maya AI for instant Punjabi/Mandarin/Cantonese/Arabic answers 24/7
Dedicated advisor from intake through funding — no handoffs
$0 fee to you on A-lender files — disclosed in writing

Stacking the FHSA and RRSP Home Buyers' Plan

The two best down-payment tools for Toronto first-time buyers stack. The First Home Savings Account gives you up to $8,000/year ($40,000 lifetime) of RRSP-style tax deductions that come out tax-free for a home, like a TFSA. The RRSP Home Buyers' Plan adds up to $60,000, repaid over 15 years. Two spouses can each use both — up to $200,000 of tax-advantaged down payment for one household. Against a typical Toronto purchase price, that's often the difference between an insured 5%-down file and a stronger 20%-down position. We build the contribution and withdrawal timing into your pre-approval.

What the stress test means for your Toronto budget

Every federally regulated lender qualifies you at the greater of your contract rate + 2% or 5.25% — so a 4.39% offered rate is tested at 6.39%. That's the figure that sets your real maximum, not the rate on the brochure. We run your file at the qualifying rate before you write an offer, so your pre-approval holds when it matters and you don't fall in love with a GTA listing you can't actually finance. Some credit unions qualify on the contract rate, which can stretch your budget — we tell you when that's the smarter lender.

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First-time buyer mortgages across Toronto

From Downtown Core to The Beaches — we know the local market, the typical first-time buyer file size, and the lender appetites that fit each pocket of Toronto.

Downtown CoreEtobicokeNorth YorkScarboroughEast YorkForest HillLeslievilleThe Beaches

Regional Ontario lenders we shop — alongside the Big-6 banks and national monolines:

Meridian DUCA Alterna Savings FirstOntario
FAQ

First-time buyer mortgages in Toronto — common questions.

Don’t see yours? Ask Maya — instant answer in 50+ languages.

Any Canadian resident in Toronto who meets the standard first-time buyer mortgages criteria — we help borrowers from Downtown Core, Etobicoke, North York and surrounding GTA. Canada's largest mortgage market — multi-tiered, multi-cultural, lender-rich.

Other mortgage solutions in Toronto

Same advisor team, full product menu — pick the one that fits your file.

All Toronto programs →
Renewal
Mortgage renewal

Don't auto-renew. We benchmark your bank against 100+ lenders.

Open
Refinance
Mortgage refinance

Lower your rate, consolidate debt, or pull up to 80% equity.

Open
HELOC
HELOC

Up to 65% LTV stand-alone, 80% combined. Interest-only on what you draw.

Open
Self-employed
Self-employed mortgages

BFS, stated income, dividend + salary — we know which lenders take which story.

Open
New to Canada
New-to-Canada mortgages

PR or work permit. International credit accepted. 50+ languages in-house.

Open
Investment
Investment property mortgages

Lenders with 100% rental offset, BRRRR refinances, DSCR products.

Open
Bad Credit
Bad credit mortgages

B-lender + private paths today, A-lender exit in 12-24 months.

Open
Private
Private mortgages

Funded in 7-21 days. Equity-based. 12-24 month bridge to A-pricing.

Open

First-time buyer mortgages in other Ontario cities

Same product, different market — see how first-time buyer mortgages look across Ontario.

Browse all Ontario →
Vaughan Mississauga Brampton Markham Oakville Richmond Hill Ajax Pickering

First-time buyer mortgages in Toronto: helpful guides & tools

Down payment calculatorAffordability calculatorBuying a home in Canada2026 rate outlook

Ready to start your first-time buyer mortgages in Toronto?

5-minute pre-qualification. No credit check to begin. Your dedicated GTA advisor responds within the next business hour.