First-Time Home Buyers

At Siga Financial, we simplify the first-time home-buying process! A mortgage specialist of ours will help you form a better understanding of the paperwork and requirements involved in buying a home, as well as provide access to competitive mortgage rates, incentives, and rebate programs that will make your home-buying experience seem effortless. When you’re ready to begin, contact us to speak with a Siga Financial mortgage advisor today.

Who is Eligible for First-Time Home Buyers Plan?

To be eligible to participate in Canada’s Home Buyers’ Plan, you must meet the following conditions:

Be a resident of Canada throughout the time application starts, to when the home is bought or built
Be considered a first-time home buyer under the Income Tax Act (Canada)
Have a written agreement to buy or build a home
Use the home as your principal residence

Please refer here for a more dwedetailed outline of eligibility requirements.

More Support Programs

There are several support programs or incentives the Government of Canada has designed to help first-time home buyers. We have listed some of the ongoing programs below for your knowledge and reference. We encourage you to take advantage of these support programs and/or other available incentives as every little bit of help can go a long way.

You can borrow up to $60,000 from your RRSP to buy your first home. Plus, an additional $60,000 from your spouse’s RRSP for a total of $120,000 borrowed. Please refer here for more information.

You can get a refund of all or part of the Land Transfer Tax if you are a first-time homebuyer. This rebate is up to a maximum of $4,000. Please refer here for more information.

When you file your taxes, you can claim a $5,000 non-refundable income tax credit amount for purchasing a qualifying home. Please refer here for more information.

When buying, building, or renovating your first home, you can recover some of the GST or HST you paid. Please refer here for more information.

Take the First Step Toward Your Dream Home

We are here to guide you every step of the way!

Apply Now(647) 862-6516

Advice for First-Time Homebuyers

There is a diverse assortment of support programs available for first-time homebuyers. Both the Government of Canada and lenders offer special programs that you can take advantage of.

By doing research, learning the industry’s terminology, and walking through the steps of purchasing property, you can make first-time homebuying a much easier process.

Contact our mortgage advisors who specialize in first-time homebuying as well as friends and family for additional advice. You’re more likely to make informed decisions by gathering as much information as you can.

We can hold your rate up to 120 days even if prices rise, but only if you’re pre-approved. Our 120-day mortgage rate guarantee is free, easy, and requires no commitment.

Speak to An Expert

At Siga Financial, we know there are many great resources available to help first-time home buyers. Our trusted mortgage professionals are dedicated to making sure you reap the benefits of these programs so you can get the most out of your first home purchase.