Mortgage Blog
Your Guide to a First Time Home Buyer Mortgage Canada
July 5, 2026 | Posted by: Matt Shepherd
Navigating Your First-Time Buyer Mortgage in Burlington
Entering the real estate market is an exciting milestone, but securing a First-Time Homebuyer Mortgage (also known as a First-Time Buyer Mortgage) can feel overwhelming. If you are looking for the right first time home buyer mortgage Canada offers, having a dedicated local expert by your side is crucial. Based in Burlington, ON, Jason Woods is here to help you navigate the complexities of buying your first property.
Many new buyers wonder if they are getting the best possible rate from their primary bank. We are experts at providing second opinions on first-time homebuyer mortgages. Before you sign any paperwork, let us review your pre-approval to ensure you are truly getting the mortgage you deserve. To better prepare your finances, we highly recommend exploring our resources on down payment assistance programs and understanding the home buyers plan RRSP withdrawal process.
Essential Tax Credits, Rebates, and Provincial Programs
Understanding the financial incentives available to you is a critical part of your First-Time Buyer Mortgage journey. The Canadian government and the province of Ontario offer several programs designed to keep more money in your pocket:
- First Home Savings Account (FHSA): This registered plan allows prospective buyers to save up to $40,000 tax-free. Contributions are tax-deductible, and withdrawals to purchase a qualifying home are non-taxable.
- Home Buyers Tax Credit: Also known as the First-Time Home Buyers Tax Credit (HBTC), this federal initiative provides a non-refundable tax credit that can help offset closing costs.
- Provincial Programs: In Ontario, first-time buyers may be eligible for a Land Transfer Tax Refund, which can save you up to $4,000 on your purchase in places like Burlington, Hamilton, and Oakville.
- GST HST Rebate: If you are purchasing a newly built home or undergoing substantial renovations, you might qualify for this rebate to recover a portion of the taxes paid.
By leveraging these tools alongside a well-structured mortgage, you can significantly reduce your upfront costs.
| Incentive Program | Maximum Benefit | Key Eligibility Criteria |
|---|---|---|
| First Home Savings Account (FHSA) | $40,000 lifetime contribution limit | Must be a first-time home buyer and Canadian resident |
| Home Buyers Tax Credit (HBTC) | Up to $1,500 non-refundable tax credit | Must acquire a qualifying home |
| Ontario Land Transfer Tax Refund | Up to $4,000 refund | Must be a first-time buyer purchasing in Ontario |
| GST/HST New Housing Rebate | Varies based on home purchase price | Must be a newly constructed or substantially renovated home |
Why Choose a Burlington Mortgage Broker?
Partnering with Jason Woods means you get access to over 40 lenders, ensuring your First-Time Homebuyer Mortgage is tailored to your unique financial situation. Whether you are looking in Burlington, Toronto, or the surrounding areas, professional mortgage advice is the best place to start. A broker works for you, not the banks, making the application process fast, simple, and secure.
Remember, we are experts at providing second opinions on first-time homebuyer mortgages. Do not settle for the first offer you receive. Let us help you explore all your options, from unlocking the benefits of the Home Buyers Tax Credit to finding the most competitive rates available.
Q1: What is the best first time home buyer mortgage Canada has to offer?
The best mortgage depends on your specific financial situation, down payment, and long-term goals. Working with a broker gives you access to multiple lenders to find the perfect fit for your needs.
Q2: How does the First Home Savings Account (FHSA) help me?
The FHSA allows you to save for a down payment tax-free. Your contributions are tax-deductible, and your withdrawals for a qualifying first home purchase are completely tax-free.
Q3: Can I get a second opinion on my current mortgage pre-approval?
Absolutely. We are experts at providing second opinions on first-time homebuyer mortgages and can often find better rates or terms than your primary bank is offering.
Q4: What provincial programs are available for Burlington buyers?
First-time buyers in Burlington and across Ontario can take advantage of the Ontario Land Transfer Tax Refund, which offers a rebate of up to $4,000.
Q5: Does the GST HST Rebate apply to resale homes?
No, the GST HST New Housing Rebate is specifically designed for newly built homes, heavily renovated properties, or custom builds, rather than traditional resale homes.
Get Your Free Mortgage Pre-Approval Today