Your first home is closer
than the internet says.
Down payment rules, the FHSA, the RRSP plan, 30-year amortizations, land transfer rebates: there is more help for first-time buyers than most people realise. Andrew puts it together into one plan and a real number you can shop with.
5%
Minimum down on the first $500k
148
Five-Star Reviews
120 days
Rate hold with pre-approval
Find out what you can actually afford.
Tell us where you are in the process and Andrew will follow up with a clear price range, the programs you qualify for, and what to have ready. No credit pull until you say so.
The rules changed. Most advice did not.
Half of what first-time buyers read online is out of date. Here is what actually helps in 2026.
FHSA plus RRSP, stacked
Up to $40,000 tax-free through the First Home Savings Account and up to $60,000 from your RRSP through the Home Buyers' Plan, each. Couples can double it.
30-year amortizations
First-time buyers can amortize an insured mortgage over 30 years, which brings the monthly payment down and gets more buyers approved.
Land transfer tax rebates
Up to $4,000 back on the provincial tax and up to $4,475 on Toronto's, applied at closing so you do not front the cash.
Gifted down payments done right
Family help is common and lenders are fine with it. The paperwork has to be right. Andrew handles that part.
If any of these sound like you, talk to Andrew.
Every file is different. These are the ones we see most in the GTA.
- Renting in Toronto and tired of watching prices while you save
- Couples combining two incomes and two savings plans for the first time
- New to Canada with a short credit history and a solid job
- Self-employed or on contract, where a bank said no without looking
- Buying a condo or a townhouse as a first step, not the forever home
- Getting help from parents and unsure how the gift needs to be documented
From first call to keys.
1. A 20-minute conversation
Income, savings, timeline. Andrew tells you the honest price range and what would move it up.
2. Pre-approval and rate hold
A few documents, then a pre-approval letter and a rate held for up to 120 days while you shop.
3. Offer with confidence
Your realtor knows the financing is solid. Andrew is a text away when a house comes up on a Sunday.
4. Approval, lawyer, keys
Final approval with the lender, rebates applied at closing, and a check-in after you move in.
First-time buyer FAQ
How much do I need for a down payment in Ontario?
For an insured mortgage, 5 percent of the first $500,000 of the price and 10 percent of the portion above that, on homes up to $1.5 million. Above $1.5 million you need 20 percent. Andrew will show you exactly what that means for the price range you are looking at.
What is the FHSA and should I use it?
The First Home Savings Account lets you save up to $8,000 a year, $40,000 lifetime, tax-deductible going in and tax-free coming out for a first home. If you are one to three years from buying, opening one now is usually the single best move.
Can I use my RRSP?
Yes. The Home Buyers' Plan lets each first-time buyer withdraw up to $60,000 from an RRSP, tax-free, and repay it over 15 years. It stacks with the FHSA.
Is a 30-year amortization available to first-time buyers?
Yes. First-time buyers can take a 30-year amortization on an insured mortgage, which lowers the monthly payment compared with 25 years. Andrew will show both so you can see the trade-off in interest.
What about land transfer tax in Toronto?
First-time buyers get a rebate of up to $4,000 on the Ontario land transfer tax and up to $4,475 on Toronto's municipal land transfer tax. Both are handled at closing.
Should I get pre-approved before I look?
Yes. A pre-approval tells you your real price range, holds a rate for up to 120 days with most lenders, and makes your offer stronger. It takes a short conversation and a few documents.
Start with a number, not a listing.
One conversation gives you a real budget and a plan for the savings programs. No obligation, no credit check until you are ready.
Andrew Gad, Mortgage Agent Level 2 (Licence M20000321) | Premiere Mortgage Centre Inc. (Brokerage Licence #10317). 1655 Dupont Street #101, Toronto, ON M6P 3T1 | 416-454-4783 | agad@premieremortgage.ca. Program limits, rebates and amortization rules are as of 2026 and change; Andrew confirms current figures for your file. Mortgage approval is subject to lender criteria.