First Time Home Buyer Strategy
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Section 1: Mortgages 101
Feeling overwhelmed by the prospect of getting a mortgage? In this section, you'll take a crash course on mortgages, simplifying the process and providing a clear starting point for your journey. Learn all the various aspects of a mortgage.
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Section 2: The Three Key Factors of a Pre-Approval
Embark on a mini-financial literacy course tailored to mortgages. Discover the three crucial factors considered in a mortgage approval: your credit, your income, and your down payment. Did you know there are programs to help you save for your down payment?
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Section 3: The Home Buying Journey
In this wrap-up section, you will learn everything included in your closing costs and what the home-buying journey looks like from start to finish. We’ll walk you through every detail so there are no surprises.
Note: As of late 2024 and into 2025, several key program updates have taken effect—most notably the expansion of insured mortgage caps from $1 M to $1.5 M and modification of amortization terms, allowing up to 30‑year insured mortgages for first-time buyers on new builds (since August 1 , 2024 and December 15 , 2024). Additionally, a new First‑Time Home Buyers’ GST Rebate, launched May 27 , 2025, offers up to $50,000 back on GST (or federal HST) for purchases under $1 M, with partial credits up to $1.5 M.
These policies are regularly updated—please confirm eligibility and program details with official sources when making financial decisions.