First-Time Buyer Programs in Ontario You Should Know About

Buying your first home in the GTA is a big step — but there are several programs designed to make it more affordable. Here are the ones worth understanding before you start shopping.

Land Transfer Tax rebates

First-time buyers in Ontario can qualify for a provincial Land Transfer Tax rebate, and buyers in the City of Toronto may qualify for an additional municipal rebate. Together these can offset a meaningful chunk of your closing costs.

The First Home Savings Account (FHSA)

The FHSA lets first-time buyers save toward a down payment with tax-deductible contributions and tax-free growth and withdrawals — combining the best features of an RRSP and a TFSA for home buyers.

The Home Buyers' Plan (HBP)

The federal Home Buyers' Plan allows you to withdraw from your RRSP toward a first home, repaid over time. Many buyers pair the HBP and FHSA to maximise their down payment.

• ✓Get pre-approved early so you know your true budget.
• ✓Budget for closing costs: land transfer tax, legal fees, and inspection.
• ✓Talk to a mortgage professional about which programs stack for your situation.

Program details and eligibility change over time — always confirm current rules with a mortgage professional or the CRA. I'm happy to connect you with trusted lenders in my network.