First-Time Buyer
Mortgage Solutions
Michael North helps first-time buyers across Ontario navigate the home buying process, access government incentives, and secure the best mortgage rates from 50+ lenders.
Why Choose Michael North
Get Pre-Approved Today
Free consultation • No obligation • 24hr response
Why Choose Michael North
Why Choose Michael North for Your First-Time Home Buyer Mortgage
As a licensed Ontario mortgage agent, Michael North provides personalized service and access to the best rates from over 50 lenders.
Down Payments as Low as 5%
With CMHC insurance, qualified first-time buyers can purchase with just 5% down payment on homes up to $500,000.
Government Incentives
Access the First-Time Home Buyer Incentive, RRSP Home Buyers' Plan, FHSA, and Ontario Land Transfer Tax rebates.
Pre-Approval Letters
Get a mortgage pre-approval that strengthens your offers and gives you confidence when house hunting.
Affordability Analysis
Michael will calculate exactly how much home you can afford based on your income, debts, and down payment.
24-Hour Pre-Approval
Fast turnaround on pre-approvals so you can start shopping for your first home with confidence.
Best Rate Guarantee
Access to 50+ lenders means Michael shops your mortgage to find the lowest rate available.
What is a First-Time Home Buyer Mortgage in Ontario?
A first-time home buyer mortgage in Ontario is specifically designed for Canadians purchasing their first primary residence. As a first-time buyer, you have access to several government programs and incentives that can save you thousands of dollars.
Michael North, a licensed mortgage agent with Owl Mortgage (Brokerage #13364, Powered by Centum Financial), specializes in helping first-time home buyers across Ontario — from Toronto and the GTA to Ottawa, Hamilton, London, Kitchener-Waterloo, and beyond.
Key First-Time Buyer Programs in Ontario
- First-Time Home Buyer Incentive (FTHBI) — Government shared-equity program reducing monthly payments
- RRSP Home Buyers' Plan — Withdraw up to $35,000 tax-free for your down payment
- First Home Savings Account (FHSA) — Save up to $40,000 tax-free for your first home
- Ontario Land Transfer Tax Rebate — Up to $4,000 rebate for first-time buyers
- Toronto Land Transfer Tax Rebate — Additional $4,475 rebate for Toronto buyers
First-Time Home Buyer Requirements in Ontario
To qualify as a first-time home buyer in Ontario, you must meet specific criteria. Michael North will review your situation and help you maximize all available incentives.
Basic Eligibility Requirements:
- You have never owned a home anywhere in the world, OR
- You haven't owned a home in the past 4 years
- You are a Canadian citizen or permanent resident
- The property will be your primary residence
- You intend to occupy the home within one year of purchase
Income and Credit Requirements:
Most A-lenders require a minimum credit score of 600-680 and a maximum Gross Debt Service (GDS) ratio of 39% and Total Debt Service (TDS) ratio of 44%. However, Michael North has access to alternative lenders and private mortgage options for buyers who don't meet traditional requirements.
How to Get Your First-Time Home Buyer Mortgage with Michael North
Working with a mortgage agent makes the process simple. Here's how it works:
Free Consultation
Discuss your homeownership goals, budget, and timeline with Michael. No cost, no obligation.
Get Pre-Approved
Submit your documents and receive a pre-approval letter within 24 hours showing your budget.
Shop with Confidence
Work with your realtor knowing exactly what you can afford. Your pre-approval strengthens offers.
Close & Get Keys
Michael coordinates with lawyers and lenders. On closing day, you get the keys to your first home!
50+ Lenders.
One Application.
Michael North has direct access to Canada's top banks, credit unions, trust companies, and alternative lenders. Your single application reaches them all.
BMO
First-Time Home Buyer Program with cashback offers
TD Canada Trust
Low down payment options for new buyers
Scotiabank
STEP mortgage program for first-time buyers
RBC Royal Bank
Homeowner ReadiLine and flexible terms
CIBC
Aventura mortgage rewards program
National Bank
All-In-One mortgage solutions
Desjardins
Flexible payment schedules
First National
Competitive rates for FTB programs
MCAP
Value-flex mortgages for new homeowners
Equitable Bank
Alternative lending for unique situations
Merix Financial
Rate discounts for first-time buyers
CMLS Financial
Quick approvals with low down payment
Plus 40+ additional lenders including Desjardins, Manulife, Industrial Alliance, and more
Frequently Asked Questions About First-Time Home Buyer Mortgage
First-Time Home Buyer Mortgage Services Across Ontario
Michael North provides first-time home buyer mortgage services to clients throughout Ontario, including these major cities and surrounding areas:
Ready to Get Started?
Contact Michael North today for a free, no-obligation consultation. Get expert guidance and access to the best first-time home buyer mortgage rates in Ontario.
Michael North, Mortgage Agent Level 1 (License #M23007520) | Owl Mortgage (Brokerage #13364, Powered by Centum Financial) | Regulated by FSRA