First-Time Home Buyer Programs in Ontario
First-time buyers in Ontario can combine several programs to build a down payment and reduce closing costs.
Programs to know
Check current limits with your advisor.
- First Home Savings Account (FHSA)
- RRSP Home Buyers' Plan withdrawal
- Ontario land transfer tax refund for first-time buyers
- Federal First-Time Home Buyers' Tax Credit
- New-home HST relief where eligible
Why pre-construction helps
Staged deposits and a closing date years out give first-time buyers time to keep contributing to an FHSA or savings before the final down payment is due.