$60K
RRSP withdrawal (HBP)
$40K
FHSA lifetime limit
$4K+
Land transfer rebate
$1.5K
Tax credit rebate
First-Time Buyer Programs
These programs can save you tens of thousands of dollars. You can combine multiple programs for maximum benefit.
First Home Savings Account (FHSA)
Best of RRSP + TFSA combinedThe newest program! Contribute up to $8,000/year ($40,000 lifetime). Contributions are tax-deductible and withdrawals for your first home are tax-free.
Official detailsHome Buyers' Plan (HBP)
Limit increased from $35,000 in 2024Withdraw up to $60,000 from your RRSP tax-free for your first home. Couples can withdraw up to $120,000 combined. Extended 5-year grace period before repayment.
Official detailsFirst-Time Home Buyers' Tax Credit
Claim $10,000 on your tax return for a rebate of up to $1,500. Can be split between spouses.
Official detailsOntario Land Transfer Tax Rebate
Up to $8,475 total in TorontoFirst-time buyers in Ontario get a rebate of up to $4,000. In Toronto, an additional municipal rebate of up to $4,475 is available.
Official detailsRecent Changes for First-Time Buyers
The federal government has introduced several new measures to help first-time buyers get into the market.
30-Year Amortization
First-time buyers can now access 30-year amortizations on insured mortgages, lowering monthly payments.
Higher Insured Mortgage Cap
The insured mortgage limit increased from $1M to $1.5M, allowing 5% down payments on higher-priced homes.
GST Relief on New Builds
First-time buyers can recover up to $50,000 in GST on newly built homes valued up to $1.5M.
Helpful Resources
Additional guides to help you prepare for homeownership.
Apr 23, 2026
Ontario Land Transfer Tax: The Complete Guide for First-Time Home Buyers in 2026
Learn exactly how much Ontario Land Transfer Tax you'll pay at every price point, how first-time buyers can save up to $4,000, and why buying in Kitchener-Waterloo costs less than Toronto.
Mar 31, 2026
Selling Your Home in Kitchener-Waterloo: The Complete Step-by-Step Guide
From deciding to sell to handing over the keys, this guide walks Kitchener-Waterloo sellers through every step — timelines, costs, offers, and the paperwork in between.
Mar 17, 2026
The Complete Home Buying Process in Ontario: A Step-by-Step Guide for KW Buyers
Everything you need to know about buying a home in Ontario, from mortgage pre-approval to closing day. This comprehensive guide is tailored for buyers in Kitchener-Waterloo.
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