First-Time Home Buyer Mortgage Services in Toronto

A first-time home buyer mortgage is designed for individuals purchasing their first home. It may include special incentives, lower down payment options, and competitive first-time home buyer mortgage rates to make homeownership more accessible.

In Canada, most first-time home buyers are required to put down at least 5% of the home price for properties under $500,000. Incentives and programs can help reduce this amount, and our team can guide you on the best approach.

Incentives include the Home Buyers’ Plan (HBP), the First-Time Home Buyer Incentive, and certain tax rebates. These programs are designed to reduce upfront costs and make buying your first home easier.

Pre-approval involves submitting financial documents to a lender or mortgage broker to determine how much you can borrow. City Mortgages provides pre-approval services to help first-time buyers shop with confidence.

Both have benefits. Fixed-rate mortgages provide payment stability, while variable-rate mortgages may offer lower initial rates. Our specialists help you evaluate first home mortgage options to suit your financial situation.

Yes, under the Home Buyers’ Plan (HBP), you can withdraw funds from your RRSP to help with your first home loan. We guide you through the process and ensure you maximise available programs.

Comparing first-time buyer mortgage rates involves looking at interest rates, terms, and lender conditions. We provide expert comparisons to help you secure the best deal for your first-time home mortgage.

After closing, we continue to support you with mortgage management, renewal guidance, and tips to optimise your home mortgage. Our goal is to help first-time buyers achieve long-term financial stability.