Supporting First-Time
Home Buyers in Ontario
Entering the real estate market is a major step. Fortunately, the Canadian and Ontario governments offer specialized structural programs designed to lower your initial down payment requirements, reduce land transfer tax burdens, and provide tax-sheltered savings methods to help you purchase your first property.
Ontario Land Transfer Tax Rebate
First-time buyers qualify for a rebate matching the full amount of land transfer taxes up to **$4,000**, which completely offsets tax costs for homes under $368,000.
First Home Savings Account (FHSA)
Save up to **$8,000** annually (tax-deductible contributions) to a lifetime cap of **$40,000**. All investment growth and eventual withdrawals for your home purchase are **100% tax-free**.
Qualified Mortgage Pre-Approval
What is your primary financing goal?
Select one option to customize your rate matrix.
First-Time Buyer Down Payment Strategies
The RRSP Home Buyers' Plan (HBP)
Under the expanded federal guidelines, you can withdraw up to **$60,000** (or $120,000 for a couple) tax-free from your Registered Retirement Savings Plan (RRSP) to use as a down payment. You have up to 15 years to repay the withdrawn amount back into your RRSP, making it a highly effective liquidity tool.
Credit Optimization & Pre-Approval
Lenders analyze your credit score to determine your interest rate eligibility. Dallas Martin helps first-time buyers evaluate their credit scores, optimize their debt-service ratios, and pre-qualify for clean low-interest products, avoiding premium alternative fees.