FIRST -TIME BUYERS
First-Time Buyer
Incentives in Ontario
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Ontario offers several government programs and tax credits to make homeownership more achievable. Explore the incentives you may be eligible for and keep more money in your pocket.
Buying your first home is a big step. We're here to help you every step of the way.
OVERVIEW
Make Homeownership More Affordable
These programs are designed to reduce some of the upfront costs of buying a home and support first-time buyers across Ontario. Eligibility requirements, amounts and program rules may change. Always verify details with the program provider or a qualified professional.
Who is a First-Time Buyer?
You (and your spouse or common-law partner) must not have owned a home in which you lived anywhere in the world in the last 4 calendar years.
First-Time Home Buyer Incentive (FTHBI)
First-Time Home Buyer Incentive (FTHBI)Shared Equity Mortgage
The Government of Canada helps reduce your monthly mortgage payments without increasing your down payment.
⊕ 5% or 10% of the home's purchase price (contribution is interest-free)
⊕ Combined annual household income must be $120,00 or less
⊕ For resale homes and new builds
⊕ You must repay the amount when you sell, transfer, or after 25 years.
Learn more on canada.ca→
First Home Savings Account (FHSA)
First Home Savings Account (FHSA)Save Tax-Free for Your First Home
A registered savings account to help you save for your first home__tax-free.
⊕ Contribute up to $8,000 per year
⊕ Lifetime contribution limit of $40,000
⊕ Tax-deductible contributions
⊕ Tax-free growth
⊕ Tax-free withdrawals for qualifying first home purchase
Learn more on canada.ca→
Land Transfer Tax Rebate
Land Transfer Tax RebateSave on Closing Costs
Get a refund of part or all of the provincial Land Transfer Tax(LTT) on your first home.
⊕ Full rebate for homes up to $368,000
⊕ Partial rebate for homes up to $4000,00
⊕ You must occupy the home as your principal residence
Learn more on canada.ca→
ADDITIONAL TAX CREDITS
Ontario Tax Credits You May Qualify For
Ontario First-Time Home Buyers Tax Credit (HBTC)
Claim up to $10,000 on your provincial taxes for the purchase of a qualifying home. The maximum credit is $1,500.
Learn more on ontario.ca→
Home Accessibility Tax Credit (HATC)
Claim up to $10,000 for eligible renovations that improve accessibility or reduce risk of injury.
Learn more on canada.ca→
Energy-Efficient Home Renovation Tax Credit
Claim up to $5,000 for eligible energy-efficient upgrades to your home.
Learn more on canada.ca→
Check Your Eligibility
Review each program's requirements carefully to ensure you qualify.
Plan Your Budget
Factor in closing costs, moving expenses and ongoing home costs.
Get Professional Advice
Work with a mortgage professional and real estate expert you trust.
Stay Informed
Programs and amounts can change. Always verify the latest details.
Ready to Take the Next Step?
Book a. no-obligation consultation and let's create a plan that's right for you.
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