Get mortgage help as a first-time homebuyer, with a minimum 5% down payment.
Ready to Buy Your First Home? We’re Here to Help.
Buying your first home is exciting—but it can also feel overwhelming. At Brevity Mortgages, we guide first-time homebuyers through every step of the process, from exploring your options to closing on your dream home.
We understand the unique challenges you face as a first-time buyer. That’s why we:
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Take the time to understand your financial situation and goals
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Help you compare mortgage options and find the best rates
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Guide you in choosing the right term, interest rate, and repayment plan
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Connect you with a wide network of trusted lenders to fit your budget and lifestyle
First-Time Homebuyer Programs & Rebates in Canada
In Canada, there are tax rebates available for first-time homebuyers, like the Land Transfer Tax Rebate, GST Rebate, and The First-Time Home Buyers' Tax Credit (HBTC). To learn more about your options, get in touch with us.
Pre-Approval Made Simple
Getting pre-approved is a crucial step. Our fast and simple pre-approval process lets you know exactly how much you can borrow—so you can shop for your home with confidence.
At Brevity Mortgages, transparency and clarity are our priority. No surprises, just guidance and support to make your first home purchase smooth and stress-free.
Contact NowDown Payment Rules
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01
The minimum down payment based on the purchase price of your home
- $500,000 or less
- 5% purchase price
- $500,000 to $1.5 million
- 5% of the first $500,000 of the purchase price
- 10% for the portion of the purchase price above $500,000
- $1.5 million or more
- 20% of the purchase price
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02
Mortgage Insurance
If the down payment is under 20%, mortgage insurance is required and added to the mortgage cost.
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First-Time Buyer Program
Home Buyers' Plan (HBP): Withdraw up to $35,000 from your RRSP for a down payment.
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Additional Costs & Rebates
Budget for closing costs (1.5%-4% of home price) and check for provincial rebates (e.g, Ontario’s land transfer tax rebate).
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Our Mortgage Services for First-Time Homebuyers
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Mortgage Pre-Approval
Understand your budget before you start shopping. We will help you get pre-approved, making the process smoother and giving you a better chance of securing the home you want.
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Fixed-Rate and Variable-Rate Mortgages
Whether you prefer the stability of a fixed-rate mortgage or the flexibility of a variable rate, we will guide you in selecting the mortgage that best suits your financial goals.
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Down Payment Assistance and Programs
We will help you navigate the available programs and grants even with low income, such as the RRSP Home Buyer’s Plan, to ease the burden of saving for a down payment.
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Mortgage Refinancing Options
If you have already purchased your first home and are looking for ways to save, we also offer mortgage refinancing services that could lower your payments or free up extra cash.
Why choose Brevity Mortgages?
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Trusted mortgage solutions to help you confidently purchase your first home
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Fast approvals and quick closings to keep your purchase on track
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Save time and money with expert guidance every step of the way
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Access to competitive rates, exclusive lender discounts, and promotional offers
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Work with experienced and professional mortgage agents and brokers
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Support for a wide range of financial situations, including first-time buyers
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Your credit score is protected and handled with complete confidentiality
Ready to Start Your Home Buying Journey?
Buying your first home in Canada is a big step but with Brevity Mortgages by your side, it does not have to be daunting. Let us help you secure a mortgage that is right for you and give you the confidence to find the home of your dreams.
Contact us today for a free consultation and take the first step toward homeownership!
Steps & Process
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Frequently Asked Questions
Yes, many first-time home buyers in Canada can purchase a home with as little as 5% down payment, depending on the purchase price and lender requirements. Mortgage loan insurance may be required when the down payment is less than 20%.
First-time home buyers in Ontario may qualify for programs such as the First-Time Home Buyers’ Tax Credit, Home Buyers’ Plan (HBP), Land Transfer Tax Rebates, and other provincial incentives. Eligibility depends on income, property value, and residency status.
Yes, many lenders in Canada allow gifted funds from immediate family members to be used toward a down payment. Lenders may request a gift letter confirming the funds do not need to be repaid.
The income required depends on your debt levels, down payment, credit score, and the home price you are considering. Mortgage lenders in Ontario use debt service ratios to determine affordability.
Yes, getting pre-approved before searching for a home helps you understand your budget, lock in an interest rate, and show sellers you are a serious buyer.
In addition to the down payment, buyers should budget for legal fees, land transfer tax, appraisal fees, home inspections, title insurance, and moving costs.
