Top 6 First-Time Home Buyer Grants and Programs

Mortgage grants and assistance programs you can use to buy a home.

• First-time Home Buyers’ Tax Credit

This isn’t just small change – a $10,000 non-refundable tax credit could mean up to $1,500 back in your client’s wallet. It’s a sweet start to their home buying journey.

• First-Time Home Buyer Incentive

This program is like having the government chip in on the purchase price of a new home. Depending on the home, your clients could see 5% or even 10% of the price covered, which makes their mortgage payments smaller.

• GST/HST New Housing Rebate

If your clients are building a new home or renovating an old one, they could get back a part of the GST or HST they pay. It’s a nice way to save some money on a big project.

• Land Transfer Tax Rebate

Buying a home in Ontario, Toronto, BC, or PEI has a perk. First-time home buyers can get some of the tax they pay for transferring land back, leaving more money in their bank account. More savings, more smiles.

• Home Buyers’ Plan

If your clients need extra money for their down payment, they can borrow up to $35,000 from their retirement savings (RRSP). The best part? They won’t pay any tax on this money as long as they pay it back in time.

• Canada Greener Homes Grant

For clients who want to make their home eco-friendly, there’s up to $5,600 available to help pay for things like energy assessments and green upgrades.