First Time Home Buyers' Guide - Introduction

The most important things to keep in mind when buying your first home.

Ontario Home Ownership Savings Plan (OHOSP)

The government has terminated this program. Find out more about the termination, and read the government bulletin here.

Using RRSPs to Finance a Home

The Canada Customs and Revenue Agency offers a special tax shelter to Canadian homebuyers. Read about the program here. Article also includes downloadable government guide and forms.

Land Transfer Tax

Purchasers can add Land Transfer Tax to their list of closing costs. Find out how Land Transfer Tax is calculated.

Downpayments & CMHC

Are you planning to put less than 25% of the purchase price of your property down as a downpayment? If so, you will have to pay the Canada Mortgage and Housing Corporation to insure your mortgage loan. Read more.

Buying vs. Renting

Interest rates are among the lowest in decades and the availability of housing of all varieties is at the highest level in years. Renters can read more about buying vs. renting.

Mortgage Approval & Why Good Credit is Important

There are a number of steps to getting mortgage financing. A particularly important step and one many people don't give much thought to is the credit check. As a routine part of the application process the lender will order a copy of your credit history.