Buying your first home can feel overwhelming—navigating down payments, programs, closing costs, and lenders. We make it simple. As Ontario-licensed mortgage professionals, we'll guide you through every step, compare 50+ lenders (prime, Alt-A, and private), and secure a rate-hold strategy that protects you while you shop. Let's turn your homeownership dream into reality—fast, clear, and stress-free.
Access to prime, Alt-A, and private lenders
Often within 24-72 hours
FHSA, RRSP, gifted funds, and rebates
Flexible documentation options
From pre-approval to move-in day
We've simplified the mortgage process into three clear steps. Here's what to expect from discovery to move-in day.
In just 5–10 minutes, we'll gather your basic information, run a soft credit check, and provide a clear documents list. You'll get an accurate budget and a pre-approval letter that shows sellers you're serious.
Timeline: Same day to 72 hours
We compare rates, terms, penalties, portability, and prepayment options across prime, Alt-A, and private lenders to find the best-fit strategy for your unique situation—not just the lowest rate.
Timeline: Ongoing during your search
Once you've found your home, we'll guide you through offer conditions, appraisal, final approval, lawyer coordination, and closing funds. Then it's move-in day!
Timeline: 5–60 days (varies by property type)
Get a clear picture of what you can afford and what your monthly payments will look like. These calculators provide estimates to help you plan—actual qualification depends on full underwriting.
Disclaimer: These calculators are illustrative only and do not constitute a commitment to lend. Actual qualification and payments depend on full underwriting, stress-test requirements, and lender criteria. Contact us for a personalized pre-approval.
Understanding your down payment options is key to planning your home purchase. Here's what you need to know about minimums, gifted funds, savings strategies, and government programs.
In Ontario, you need at least 5% down for homes under $500,000. For homes between $500,000 and $1 million, you need 5% on the first $500,000 and 10% on the remainder. For homes over $1 million, you need 20% down. With less than 20% down, you'll need mortgage default insurance (CMHC, Sagen, or Canada Guaranty).
You can use gifted funds from immediate family members for your down payment. You'll need a gift letter stating the funds are a gift (not a loan) and proof of the donor's ability to give. Lenders will also want to see a 90-day history of the funds in your account before closing.
Automate your savings by setting up recurring transfers to a dedicated down payment account. Cut discretionary spending, track your expenses, and consider a high-interest savings account. Don't forget to keep an emergency buffer—you'll need funds for closing costs, moving, and initial home expenses.
The FHSA is a tax-advantaged account designed for first-time buyers. Contributions are tax-deductible, and withdrawals for a qualifying first home purchase are tax-free. There are annual and lifetime contribution limits, so verify current limits with the CRA or ask us to confirm your eligibility.
You can withdraw eligible RRSP funds for your down payment under the Home Buyers' Plan. Withdrawals are tax-free if you repay them over 15 years. There's a maximum withdrawal limit (verify current amount with CRA), and you must be a first-time buyer or meet specific criteria. We'll help you understand the repayment timeline and implications.
Take advantage of government programs designed to help first-time buyers save thousands on their home purchase.
Shared-equity mortgage with the Government of Canada. Borrow 5% or 10% of the home's purchase price to reduce your monthly mortgage payment.
Eligibility: Total borrowing must not exceed 4× your household income
Ontario offers up to $4,000 rebate on land transfer tax for first-time buyers. Toronto residents may qualify for an additional municipal rebate.
Eligibility: Must be a Canadian citizen or permanent resident
Withdraw up to $35,000 from your RRSP tax-free to buy or build a qualifying home. Repay over 15 years.
Eligibility: Must be a first-time home buyer or not owned a home in the past 4 years
Recover some of the GST/HST paid on a new or substantially renovated home. Rebate amount depends on purchase price.
Eligibility: Home must be your primary residence
I'll help you navigate these programs and maximize your savings.
If you're putting down less than 20%, mortgage default insurance is required by law in Canada.
Insurance that protects lenders if you default on your mortgage
You pay the premium, but it can be added to your mortgage amount
Allows you to buy sooner with as little as 5% down
| Down Payment | Premium Rate |
|---|---|
| 5% - 9.99% | 4.00% |
| 10% - 14.99% | 3.10% |
| 15% - 19.99% | 2.80% |
Example: On a $500,000 home with 5% down ($25,000), your CMHC premium would be $19,000 (4% of $475,000 mortgage).
Budget 1.5% - 4% of your purchase price for closing costs. Here's what to expect:
Lawyer or notary fees for title transfer, registration, and document review
Provincial tax on property transfer (first-time buyers get up to $4,000 rebate)
Professional inspection to identify potential issues before purchase
Required by lender to confirm property value
Get organized early! Having these documents ready speeds up your mortgage approval.
Pro Tip: I'll provide a personalized checklist based on your situation during our consultation.
From pre-approval to closing day — here's what to expect on your first-time buyer journey.
1-3 Days
2-8 Weeks
5-10 Days
30-60 Days
Total Timeline: Most first-time buyers go from pre-approval to keys in 6-12 weeks.
Understanding your mortgage rate options helps you make the best financial decision.
Your rate stays the same for the entire term, providing payment stability and peace of mind.
Your rate fluctuates with the Bank of Canada's prime rate, potentially saving you money.
Most first-time buyers benefit from a fixed rate for their first term. It provides stability while you adjust to homeownership expenses. Once you build equity and financial cushion, you can explore variable rates on renewal.
That said, everyone's situation is unique. I'll analyze current market conditions and your financial goals to recommend the best strategy for you.
Both options have unique advantages for first-time buyers. Here's what to consider:
New Build: You'll need a "construction mortgage" with staged advances. Your rate is held for 90-120 days, then you may need a rate extension if closing is delayed.
Resale: Standard mortgage with one closing date. Simpler process with faster approval timeline.
Get answers to the most common questions from first-time home buyers in Ontario.
Still have questions?
Download helpful guides and tools to support your home buying journey.
Complete 20-page guide covering everything from pre-approval to closing day
Understand key terms like amortization, GDS, TDS, and more
Printable checklist of all documents needed for your mortgage application
FSRA licensed mortgage agent in Ontario
Member of Mortgage Professionals Canada
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Licensed to serve all of Ontario with fast pre-approvals and competitive rates.
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