Buying Your First Home?
Buying your first home comes with a lot of questions. We'll help you understand how much you may qualify for, your down payment options, available first-time buyer programs and what you'll need to get pre-approved.
Mortgage advice backed by 14+ years of industry experience.
Everything You Need to Buy With Confidence
From understanding how much you can afford to knowing which programs may help, here's what we'll walk through together.
- Understand your buying power
- Explore down payment options
- Learn about first-time buyer programs
- Know what you'll need for pre-approval
How Much Home Could I Afford?
Enter a few details to get an estimate of your potential buying power.
Car loans, credit cards, lines of credit, etc.
Enter your information above to see your estimated results.
Qualification based on maximum 39% GDS / 44% TDS and the mortgage stress test. Land transfer tax and closing costs are estimates only. Actual amounts may vary based on purchase price, property location, buyer eligibility and applicable provincial or municipal rules. This is an estimate for illustration only and is not a mortgage approval. Actual qualification depends on your credit, income, the property, lender and insurer guidelines. O.A.C.
How Much Cash Will I Need to Buy My First Home?
Your down payment isn't the only cost to plan for. Get an estimate of how much cash you may want to have available before you buy.
Appraisal, home inspection, adjustments, moving, etc.
Enter your purchase price and down payment above to see your estimated cash needed to close.
All figures are estimates for illustration only. Mortgage default insurance (when your down payment is under 20%) is typically added to your mortgage and is not required as cash at closing. Actual land transfer tax, rebates, legal fees, adjustments and other closing costs can vary. First-time buyer rebates are subject to eligibility requirements.
First-Time Buyer Programs & Savings
Several programs and savings options may help eligible first-time buyers in Ontario. Eligibility requirements apply to each.
RRSP Home Buyers' Plan (HBP)
Eligible first-time buyers may withdraw up to $60,000 from an RRSP to put toward a home, tax-free, and repay it over 15 years.
First Home Savings Account (FHSA)
A registered account that lets first-time buyers save up to $8,000 per year ($40,000 lifetime) with tax-deductible contributions and tax-free withdrawals for a first home.
Ontario Land Transfer Tax Refund
Eligible first-time buyers may receive a refund of up to $4,000 on the provincial land transfer tax.
Toronto Municipal LTT Rebate
First-time buyers purchasing in Toronto may also qualify for a rebate of up to $4,475 on the city's municipal land transfer tax.
What Will I Need for a Mortgage Pre-Approval?
Income
- Recent pay stubs
- Employment letter
- T4s when required
Down Payment
- Bank/investment statements
- Gift documentation when applicable
- Sale proceeds from another property when applicable
Identification
- Government-issued identification
Other Documents
- Additional documents may be required depending on employment type, property, lender and mortgage program.
Don't worry if you don't have everything yet. We'll let you know exactly what's required for your situation.
Start My Pre-ApprovalFrom Pre-Approval to Keys
Tell Us About Your Goals
Learn about the property you're looking for, your income, down payment and financial goals.
Understand Your Buying Power
Review qualification, estimated payments and available mortgage options.
Shop With Confidence
Once you understand your numbers, you can search for a home with a clearer budget.
Finalize Your Mortgage
Once you have an accepted offer, we'll work through the mortgage approval and lender requirements through closing.
Get Pre-Approved & Shop With Confidence
We'll review your application, income, credit and available lender options to help you understand your potential buying power and next steps.
130-Day Rate Hold Protection
Lock today's rate while you house-hunt. If rates drop before you close, we re-lock lower.
We Handle the Paperwork
From application to closing — we coordinate with the lender, realtor, and lawyer for a seamless purchase.
No Brokerage Fees on Prime Mortgages
Lenders pay our fee directly, so you pay $0 for expert advice and lender shopping.
Credit Review
A credit review can provide a more complete picture of your mortgage qualification and available lender options.
Need Immediate Guidance?
Our purchase desk is available Monday–Saturday 8am to 8pm EST.
Frequently Asked Questions
Common questions from Ontario homebuyers.
Ready to Start Looking for Your First Home?
Let's find out what your numbers look like.
Get Pre-Approved