First-Time Buyer Incentives You Shouldn’t Miss

by Ross Mogridge

First-Time Buyer Incentives and Rebates

Canada and Ontario offer multiple programs designed to support first-time buyers. These incentives can significantly reduce your upfront costs or monthly payments.

Here are some of the most powerful tools available:

First-Time Home Buyer Incentive – A shared equity program through CMHC that helps reduce your monthly mortgage payment.
Home Buyers' Plan (HBP) – Withdraw up to $60,000 tax-free from your RRSP to use as your down payment.
Land Transfer Tax Rebate – Up to $4,000 back for first-time Ontario buyers.
First Home Savings Account (FHSA) – A new savings tool offering tax-deductible contributions and tax-free withdrawals for your first home.

Each program has its own eligibility rules. Some can be combined, others can’t. But every dollar saved is one step closer to owning your future.

💡 Ridge Pro Tip: Work with an agent who understands how to stack these benefits. It could save you thousands.

🔗 Related Articles: