Before you look at listings, you need mortgage pre-approval. A lender or mortgage broker reviews your income, debts, and credit, then commits (conditionally) to a specific loan amount at a locked-in rate for roughly 60–130 days. Pre-approval tells you exactly what you can afford and shows sellers you're serious. Aim for a credit score of 680+ for the best rates.

For resale homes, Canadian minimums are tiered:

• 5% on homes under $500,000
• 5% on the first $500K + 10% on the portion between $500K–$1M
• 20% on homes over $1 million (uninsured mortgage required)

Budget an additional 1.5%–4% of the purchase price for closing costs (legal fees, land transfer tax, title insurance).

For new builds / pre-construction, the down payment is structured differently — it's paid in installments to the builder before closing, typically:

• 5% on signing the Agreement of Purchase and Sale
• 5% in 30–60 days
• 5% in 90–180 days
• 5% on occupancy (final closing)

You'll also want to plan for HST on the purchase (the Ontario HST rebate can offset this on eligible homes), development charges, Tarion warranty fees, and occupancy fees during interim occupancy. Pre-con has a longer runway — sometimes 2–4 years from signing to move-in — so your cash flow plan matters more than on a resale.

In Ontario, you qualify as a first-time home buyer if you (and your spouse or common-law partner) haven't owned a home anywhere in the world in the last four years. Qualification criteria can vary slightly depending on which program you're applying for — we'll confirm eligibility before applying for any rebates.

A few key ones worth knowing:

• Ontario Land Transfer Tax Refund — up to $4,000 back for eligible first-time buyers
• Toronto Municipal LTT Rebate — up to $4,475 additional if buying inside Toronto
• First Home Savings Account (FHSA) — tax-free savings up to $40,000 lifetime
• RRSP Home Buyers' Plan — withdraw up to $60,000 tax-free from your RRSP
• First-Time Home Buyers' Tax Credit — federal non-refundable credit

Yes. Effective April 1, 2026, Ontario's temporary expanded HST rebate removes the full 13% HST on eligible new homes valued up to $1 million. Partial relief is available on homes between $1M–$1.5M, with a maximum rebate of $130,000. The measure runs until March 31, 2027. Important — eligibility rules are specific, so we'll verify every deal on a case-by-case basis.

You enter the conditional period — your window to do due diligence. You'll typically:

• Finalize your mortgage approval (lender may order an appraisal)
• Complete a home inspection with a licensed inspector
• Review the status certificate (condos) or title search (freehold)
• Waive or fulfill conditions by the deadline in the Agreement of Purchase and Sale

After conditions are waived, your lawyer handles the closing. On closing day, ownership transfers and you get the keys.

Do not make major financial changes between pre-approval and closing: no new credit cards, car loans, job changes, or large purchases. Lenders re-verify your credit before closing and anything that shifts your debt-to-income ratio can collapse your approval.