First-Time Homebuyer Mortgages in Toronto, Burlington, Mississauga & Oakville

Buying your first home doesn’t have to be overwhelming

Becoming a homeowner is one of life’s biggest milestones — but for first-time buyers, the process can feel like a rollercoaster. Between skyrocketing GTA home prices, the mortgage stress test, and all the conflicting advice online, it’s easy to feel lost. That’s where Ontario Mortgage Experts comes in.

We specialize in helping first-time buyers in Toronto, Mississauga, Oakville, Burlington, and Hamilton secure mortgages that fit their budget — sometimes with as little as 5% down. With access to 50+ lenders, we’ll compare your options, explain your choices in plain English, and walk you through every step until you get the keys to your first home.

Want to know how much you qualify for?

Book your free 10-minute call today.

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💰 How Much Do You Need for a Down Payment in Ontario?🎁 First-Time Buyer Incentives & Rebates You Can Use ✅ How We Help First-Time Buyers Get Approved 🏦 Why Work With a GTA Mortgage Broker vs. Your Bank 🌆 Why Choose Ontario Mortgage Experts for First-Time Buyers

💰 How Much Do You Need for a Down Payment in Ontario?

As of December 15, 2024, you can now buy a home priced up to $1.5 million with less than 20% down, thanks to the expanded CMHC insurance rules. This is a game-changer for GTA buyers.

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Here’s how it works:

5% down on the first $500,000 of the purchase price

10% down on the portion between $500,000 and $1.5 million

20% down required for any purchase over $1.5 million (not insurable)

Examples:

$450,000 condo in Hamilton → 5% = $22,500 down

$700,000 townhouse in Mississauga →
5% of first $500,000 = $25,000
10% of remaining $200,000 = $20,000
Total = $45,000 down

$1.3M detached in Oakville →
5% of first $500,000 = $25,000
10% of next $800,000 = $80,000
Total = $105,000 down

$1.5M Toronto home →
5% of first $500,000 = $25,000
10% of next $1,000,000 = $100,000
Total = $125,000 down

👉 Anything over $1.5M requires 20% down.

The best part? Your down payment can come from:

Personal savings

RRSP withdrawals (Home Buyers’ Plan – up to $60,000 per couple)

Tax-Free First Home Savings Account (FHSA) contributions

Gifts from immediate family

Equity from another property

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🎁 First-Time Buyer Incentives & Rebates You Can Use

The government offers several programs designed to make homeownership easier for first-time buyers. Here are the ones you should know about:

First-Time Home Buyer Incentive (FTHBI): CMHC will contribute 5–10% of your down payment in exchange for shared equity.

Land Transfer Tax Rebates: Save up to $8,475 in Ontario and $4,000 in Toronto.

Home Buyers’ Plan (HBP): Withdraw up to $60,000 (per couple) from your RRSPs tax-free to use towards your down payment.

Tax-Free First Home Savings Account (FHSA): Contribute up to $8,000/year (max $40,000 total). Contributions are tax-deductible, and withdrawals are tax-free when used for a home purchase.

💡 Many buyers miss out on thousands of dollars in rebates simply because they didn’t know they were eligible. We’ll make sure you don’t leave money on the table.

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✅ How We Help First-Time Buyers Get Approved

The mortgage approval process can feel complicated — but it doesn’t have to be. Here’s how we make it simple:

Pre-Approval: We’ll calculate how much you can afford and lock in your rate for up to 120 days.

Stress Test Strategy: The “stress test” requires you to qualify at a higher rate than you’ll actually pay. We’ll show you how to navigate it.

Lender Matching: Every buyer’s situation is unique. We’ll match you with the lender that best fits your income, credit, and goals.

Step-by-Step Guidance: From documents to closing, we’ll walk you through every step — so there are no surprises.

Whether you’re a salaried employee, self-employed, or new to Canada, we’ll build a plan that works for you.

Book your free Call

🏦 Why Work With a GTA Mortgage Broker vs. Your Bank

Many first-time buyers start by walking into their bank. But here’s the truth:

Banks only offer their own mortgage products.

We compare 50+ lenders (including banks, credit unions, and alternative lenders).

Brokers often secure better rates and terms than the banks advertise.

We have access to programs for unique cases that banks often decline.

When you work with us, you’re not stuck with one option — you get the best of the entire market.

Book your free Call

🌆 Why Choose Ontario Mortgage Experts for First-Time Buyers

✅ Local Expertise: We specialize in Toronto, Mississauga, Oakville, Burlington, and Hamilton.

✅ 50+ Lender Network: From the big banks to alternative options.

✅ Personalized Advice: No cookie-cutter mortgages here.

✅ Proven Experience: We’ve helped countless first-time buyers unlock homeownership.

✅ Stress-Free Process: We’ll handle the paperwork, you focus on finding your dream home.

🏡 First-Time Homebuyer Mortgages in Toronto & the GTA

Want to know how much you qualify for?

Table of contents

💰 How Much Do You Need for a Down Payment in Ontario?

🎁 First-Time Buyer Incentives & Rebates You Can Use

✅ How We Help First-Time Buyers Get Approved

🏦 Why Work With a GTA Mortgage Broker vs. Your Bank

🌆 Why Choose Ontario Mortgage Experts for First-Time Buyers