First-Time Home Buyers in Toronto

If you’re hoping to purchase your first home, eMortgage Solutions is happy to guide you through the process of becoming a homeowner.

Buying a house is a significant step for any family, and our mortgage brokers want to help you do it right. We’ll negotiate the best mortgages for first-time buyers with potential lenders in Toronto, and we’ll introduce you to the various first-time buyer mortgage programs available to you.

Contact our mortgage specialists at (416) 258-0156 for more information. We’ll set up a no-obligation consultation to see what discounts you qualify for, and we’ll find you the best mortgage rate opportunities.

Which Loan Is Best for First-Time Home Buyers?

When you get in touch with us, our team will help you figure out which mortgage loan is best for you. Depending on your financial circumstances and the home you wish to buy, we’ll negotiate with different mortgage lenders to show you your options.

We’ll connect you with dozens of trustworthy lenders who offer competitive first-time mortgage rates and terms, so you can make the final decision on which loan to go with.

How Do You Qualify for First-Time Home Buyer Mortgages?

When applying for a first-time mortgage, there are specific criteria you must meet to qualify. You must:

  • Not have owned any property in the last 4 years
  • Have a good credit report
  • Have proof of employment
  • Have job stability and consistent cash flow
  • Put down a minimum 5% deposit

We’ll go over these qualifications with you, and make sure all your information and documentation are in order. Then, we’ll relay this information to potential lenders in your area.

What Programs Are Available for First-Time Home Buyers?

You may have heard that there is financial assistance put in place to help first-time buyers successfully acquire a property. With our mortgage specialists, you can explore a wide array of first-time home buyer discount programs available, including the following:

  • First-Time Home Buyer Incentive (FTHBI)
  • First-Time Home Buyers’ Tax Credit (HBTC)
  • GST/HST New Housing Rebate
  • Home Buyers’ Plan (HBP)
  • And much more!

What Are the Pros and Cons of First-Time Home Buyers Programs?

There are many pros and cons to first-time home buyer programs that we believe you should know before making any decisions.

Of course, one of the biggest advantages is having the option of a discounted mortgage. Lower mortgage rates can be the difference first-time buyers need to be able to afford a home. Otherwise, they might be stuck renting with no real alternatives.

Still, there are disadvantages you should also take note of when considering a mortgage discount program. These include losing an equity interest in your home and having limited access to the housing market as opposed to the whole of it.

Shop the Best Deals on First-Time Mortgages in Toronto

Now that you know a little more about the options available to you, there is no better time to start looking for a home with eMortgage Solutions.

Call us now at (416) 258-0156 to get started. Let us show you the first-time buyer options available to you in Toronto and ease some of the financial strain of homeownership.