A vast array of first time home buyer programs in Ontario are available to ease the financial burden of purchasing your first house. Buying your first home is both exciting and scary at the same time.


With the average price of a house in Canada totaling just under $500,000, and the average down payment is slightly over $50,500, first time home buyers in Canada have a lot to consider.


That said, the average cost of a home in Ontario last year was approximately $578,000. This means, for most of us, some assistance is going to be necessary to make the purchase of our first home go as smoothly as possible.


Thankfully, the Canadian government offers numerous special programs and grants to first time home buyers. Ready to find out which ones are best for you and your family? Let’s have a look!

What Are First Time Home Buyer Programs and Why Should I Know About Them?

First time home buyer programs in Canada are much more common than you might imagine. Did you know that the average Canadian spends several hundred-thousands of dollars buying their first home?. It should come as no surprise that well over half of all Canadians are likely to require the assistance of (not only family) but of a bank or a financial institution as well.


Even though a small portion of Canadians can purchase their homes without financial assistance (a tiny part, we might add), it is far from common to buy your first home without some financial support of some sort. That is where mortgages, home-loans, and first time home buyer programs and resources come in to play.


Throughout Ontario, and Canada as a whole, a diverse range of homebuyer programs exist, not excluding the much-sought-after first time home buyer programs. These available resources and programs for first time home buyers in Ontario are something of a life-saver to Canadians buying their first homes.


Financially speaking, most Canadians would have to delay the purchase of their first home for several years while eliminating debt, repairing credit scores, and reducing necessary monthly payments, to say the least. That is why we’ve taken it upon ourselves to provide the greater Ontario region with such an extensive list of programs and resources.

Frequently Asked Questions About First Time Home Buyer Programs

Buying your first home is an exhilarating process. That said, the more informed you are, the quicker and smoother the process goes.


Here are a few of the most frequently asked questions about first time home buyer programs:


How much money can I get with a first time home buyer program?

The amount of money you can get from a first time home buyer program in Ontario ranges from hundreds of dollars to tens of thousands of dollars. For this reason, it is imperative that you are thoroughly familiar with the first time home buyer programs in your area before moving forward with purchasing your first home in Ontario.


How much money should I make to qualify for a first time home buyer program?

Due to the vast array of first time home buyer programs available in the Ontario area, the minimum and maximum income caps for the qualification of specific programs (and resources) vary considerably. Again, this is where studying the full list of programs and resources for first time home buyers in your area becomes essential.


How do I apply for a first time home buyer program?

Each of the first time home buyer programs in Ontario are based on their own unique list of qualifications. For this reason, the application process is slightly different for each one. Scrolling through the list of options keep in mind that to see a specific set of application instructions you will need to follow the resource link to their respective websites for the full details.


How long does it take to be approved for a first time home buyer program?

First time home buyer programs in Ontario, and all across Canada, are incredibly versatile in nature. That said, the time required for being approved will vary. You can expect to hear back on the status of your application in as little as a few days or as much as several months.


The Best 5 First Time Home Buyer Programs in Ontario

The next following sections of this post are dedicated strictly to a versatile collection of resources, and links to additional information, about first time home buyers programs in Ontario and the surrounding areas.


To start off this extensive list of all the best first time home buyer programs in Ontario, we’ve begun with three of the most effective programs to those planning to buy a home in Ontario specifically:

The 2 Best Programs for First Time Home Buyers in Ontario

If you’re planning on buying a home in Ontario any time soon, if it’s your first time purchasing one, you may be entitled to tremendous savings from one of the following two programs:

The Ontario Home Ownership Savings Plan (OHOSP)​

The OHOSP program, the Ontario Home Ownership Savings Plan, assists home buyers in saving money for their first home in Ontario.

Type and value of the program

The Ontario Home Ownership Savings Plan is a tax break program; it allows you an annual tax break of as much as $2,000.

Eligibility and qualifications

  • You (and your spouse, if married) must be at least 18 years old and permanent residents in Ontario
  • Your average combined household income is below $80,000
  • If you are saving for a new home with a partner, you will both need individual accounts
  • Your average household income is below $40,000
  • All funds collected through the plan must go towards the purchase of a qualified home
  • You may only qualify for the Ontario Home Ownership Savings Plan once
  • You must reside within your new home for no less than 30 days in a row inside of the first two years for the time of purchase
  • Townhomes, condos, duplexes, semi and fully detached homes, and mobile homes are included in the plan
  • You must be enrolled by December 31st to be considered as an eligible recipient of the program

Application process

To apply for the Ontario Home Ownership Savings Plan, you will be regularly completing the Home Purchase Declaration. This process is repeated no less than four weeks before the closing date on your new home. Your lender will provide you with the proper form.


The OHOSP application requires specific information such as your lawyer’s contact info, if you don’t happen to be using an attorney, the Ministry of Finance will need to be contacted for a release of the funds from OHOSP.

The Land Transfer Tax Refund for First Time Homebuyers

Ontario is no different than any other province in Canada; when it comes to buying real estates, chances are you’re going to be required to pay some sort of a land transfer tax. That said, to help ease the financial strain of the first time home buying process, the government of Ontario allows a refund on part, or all, of your land transfer tax if you’re found eligible for the program. This program is known as the Land Transfer Tax Refund for First Time Homebuyers.

Type and value of the program

With the tax-refund-based Land Transfer Tax Refund for First Time Homebuyers program in Ontario, you are eligible for savings between $2,000 and $4,000

Eligibility and qualifications

  • You must be a first time home buyer in the Ontario area
  • You must be at least 18 years old at the time of applying
  • There is no re-qualification of this program allowed, you can only be qualified for it once
  • Having received a home through inheritance, or a gifting process of some sort disqualifies you from applying for this program
  • In addition, if you or your partner has owned a home, even owned an interest in a home, absolutely anywhere in the world, you will not qualify for the program

Application Process

The application process for the Land Transfer Tax Refund for First Time Homebuyers in Ontario is reasonably straightforward. All you need to do is inquire about the rebate forms with your real estate attorney when you’re closing the deal on your new property. It’s a relatively quick and painless application to be fair.

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The 3 Best National Programs for First Time Home Buyers in Canada

The middle section of our list of first time home buyer programs in Ontario is dedicated to the three most popular national programs for first time home buyers in all of Canada.

If you plan to buy a home in Ontario, or the surrounding area, one of these programs might be for you:

The First-Time Home Buyers’ Tax Credit (also known as HBTC)

In all of Canada, perhaps no other tax credit is sought after when purchasing a first home. If you’re a home buyer in Canada, who purchased their first home after the 27th of January, 2009, then you’ll more than likely qualify for the HBTC, officially known as the First-Time Home Buyers’ Tax Credit.

Type and value of the program

The HBTC is a tax credit in Ontario for first time home buyers. The loan is offering up to $5,000, non-refundable when filing your tax return upon the following year of the purchase. You can count on walking away with no less than a $750 credit.

Eligibility and qualifications

  • Your new home must have been purchased after January of 2009
  • The real estate must be located in Canada
  • Condos, townhouses, single-family, semi-detached, and duplex-type properties are all eligible for this program
  • You, or a person with a disability, is residing in the new home within a single year after its purchase
  • If you are buying the house for a disabled person, or you are disabled, you do not have to be buying your first home to qualify
  • You must not have lived in a home that you or your partner owned within the past four years
  • A right of tenancy strictly will not meet requirements necessary to qualify for this program
  • Residency in co-operative housing with equity interest also qualifies you for this program

Application Process

When you’re completing your tax return the year after buying your first home in Ontario, or Canada in general, you’ll be required to complete the Schedule 1 of the Federal Tax section in your filings. That’s it!

The Home Buyers’ Plan (also known as HBP)

HBP, also known as The Home Buyers’ Plan, is a first time home buyers program in Canada that is made to ease the financial stress of the buyers while securing their first property. The program may allow you to qualify for several thousands of dollars.

Type and value of the program

The Home Buyer’s Plan for those buying their first home’s in Ontario is another tax-break-based program. With the help of the HBP, home buyers can receive as much as $25,000 (tax-free) from your RRSP. That said, it is essential to mention that your actual savings will all depend on your personal tax bracket.

Eligibility and qualifications

  • You must possess a written agreement for purchasing or building a qualified home
  • You must be a first time home buyer
  • Your partner must not have owned a home in at least four years
  • Your credit score will be required
  • You intend to personally occupy the new home as your primary place of residence (this requirement does not apply to people with disabilities)

Application Process

The HBP application process is straightforward. You will need to provide the necessary information, personal details, credit score and documentation about the new home you’re buying. Furthermore, if you’re a previous qualifier for the program, you are likely to be eligible for re-qualification (this only applies if you repaid the initial amount borrowed).

The GST/HST New Housing Rebate (also known as GST/HST)

If you purchased your first home in Canada, you might qualify for a break known as the GST/HST New Housing Rebate. But, wait… that’s not all… there’s more! You could also qualify for a second rebate covering all of the costs associated with significant renovations to your real estate, add-ons, and substantial conversions of commercial to residential property.

Type and value of the program

The GST/HST New Housing Rebate is a tax break program for those buying homes for the first time in Canada. The program includes a handful of individual rebates that you may be eligible to claim based on the province in which your home is located. The amount you qualify varies as well.

Eligibility and qualifications

  • The eligibility of this program extends to many versatile types of homes, including houseboats and mobile homes
  • There is a small list of property qualifications that must be met
  • Rebates must be claimed on the property only if the real estate is estimated to value less than $450,000
  • Your credit score could affect your eligibility for this program

Application Process

Various rebates are available, depending on the type of property and the province it’s purchased in. For details regarding which rebates you’re eligible for and which forms are required for the application, please consult the link in the resource section.

Programs and Resources in Ontario Listed by City and County

Didn’t find a program or resource for you and your family in the list above? Take a look at the third and final section of our list, it’s comprised of links to additional resources and programs available to first time home buyers throughout Ontario in its entirety.

We’ve taken the liberty of listing these resources by city and county to make the process easier for you and your loved ones:


All of the programs and resources listed above are operated by the cities, counties, and municipalities located through the greater Ontario area. If you did not find the location of the home your interesting in buying, in Ontario, please feel free to contact the expert staff at Citadel Mortgage to inquire further about the existence of such a program in your city or county.

What Do I Need to Know About Mortgages and Buying My First Home in Ontario?

The first thing you need to know about a Mortgage is that there is more to it than just the rate.


That said, being fully prepared and entirely dedicated to the process are the first steps to a successful first mortgage, here are the others:


  1. Know your credit score. A poor credit score can cause you to be denied or be forced to take a mortgage with a higher interest rate. Just knowing your score will give you a much better idea of what you can expect.
  2. Understand how you will finance your home. Will you pay for your first home through an active income and a combination of savings and loans? Perhaps a family member will be lending you some percentage of the total cost? How many first time home buyer programs in Ontario are you eligible for?
  3. Know your financial limits. You can only afford what you have the means to cover. Trying to purchase a home in a higher income range than you are (even if you’ve got your eye on that promotion or new start-up) is never a good idea. More often than not it can be the recipe for disaster. Stick with a home you know you can afford and avoid this classic mortgage-making-mistake.
  4. Have steady gainful employment with proof of income. You need to prove where you’re employed, how much your income is, and how long you’ve worked there. Just having this information ready throughout the early stages of your home-buying experience will help save you a tremendous amount of time.
  5. Don’t be afraid to ask for help. Professionals, like Citadel Mortgages and their mortgage agents, exist for a reason. Don’t be afraid to ask them for help. Mortgages don’t need to be a hassle. You should be excited at the process of moving forward with finally buying your first home in Ontario.
  6. Avoid taking a mortgage if you are afraid. Fear has a tendency to lead us to make poor decisions. Avoid buyer remorse, or signing onto the first Mortgage deal you see due to fear that you’ll not be able to find a better one or for fear of your first home being out of your reach.


All of the above taken into consideration, your first mortgage shouldn’t feel like signing a pact with the devil. You aren’t making a deal with the devil. You are definitely not signing your soul over, your just buying a home.

If your gut is screaming don’t do this, take a step back and look for other brokers. Whatever you do, you should do it all the way. Going into a mortgage half-hearted or with any amount of uncertainty is not advised.

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A Final Word About Mortgages and First Time Home Buyer Programs in Ontario

Well, there you have it! With the wealth of information about first time home buyer programs in Ontario (and Canada in general) listed above. You should have no problem with your quest to unearth the best first time home buyer program for you and your family.


If you have any questions, comments, in regards to any of the first time home buyer programs mentioned on our list, or about a first time home buyer mortgage in Canada, please feel free to reach out to the friendly professionals here at Citadel Mortgage via phone, email, or our Contact Us page. Our expert staff will help you quickly and easily get onto the road to a new home.


By using a mortgage agent or mortgage broker from Citadel Mortgages, you will be able to ask all the questions you have and be ensured you get the best advice and mortgage product for your mortgage needs. Contact us here at Citadel Mortgages to become mortgage-free sooner!

Want to learn more? Call us toll-free at (866) 600-8762  Learn More Today

If your ready to proceed with a mortgage approval, refinance or equity take out a mortgage then apply now by using this link – –

Good luck and happy house hunting!

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