Office 289-505-0631  ·  Direct 647-291-7116 Rajiv Verma, Mortgage Broker · Mortgage Architects · FSRA Licence #12728
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First-time home buyers in the GTA — get in the door with confidence

From down payment and pre-approval to closing day, I’ll guide you through your first mortgage in plain language — and get you a rate the banks won’t volunteer.

Quick answer: As a first-time buyer you can buy with as little as 5% down, use programs like the First Home Savings Account and RRSP Home Buyers’ Plan, and get pre-approved so you shop with confidence. A broker compares lenders across the market on terms as well as rate — at no cost to you.

What you need to buy your first home

  • Down payment: from 5% on the first $500,000 of the price (rules scale up above that).
  • Pre-approval: know your budget and lock a rate before you shop.
  • Closing costs: land transfer tax, legal fees, and inspection — first-time buyers may qualify for rebates.

Programs that help first-time buyers

  • First Home Savings Account (FHSA) — save toward your down payment tax-free.
  • RRSP Home Buyers’ Plan — withdraw toward your down payment.
  • Land transfer tax rebates — provincial and, in Toronto, municipal.

How I help

  • 1. Free pre-approval so you know your true budget.
  • 2. Compare lenders across the market on rate and terms.
  • 3. Hand-hold through documents, appraisal, and closing.
Minimum down
From 5%
Pre-approval
Free · locks your rate
New to Canada?
Programs available
Cost to you
$0 — lenders pay the broker
AI-enabled FAQ

First-time buyers — your questions, answered

Real answers to the questions clients actually ask. Search or tap any question.

How much down payment do I need as a first-time buyer?
As little as 5% on the first $500,000 of the purchase price, with a higher percentage on amounts above that. Under 20% down means you’ll also pay mortgage default insurance.
What is a mortgage pre-approval and why do I need one?
A pre-approval confirms how much you can borrow and locks a rate for up to 120 days, so you can shop confidently and make strong offers. It’s free — start here.
What government programs help first-time buyers?
The First Home Savings Account (FHSA), the RRSP Home Buyers’ Plan, and land transfer tax rebates can all reduce your upfront cost. I’ll help you use the ones you qualify for.
What credit score do I need to buy my first home?
A stronger score opens more lenders and better pricing, but there are options across the credit spectrum — including for self-employed and newer borrowers. We work with what you have and build a plan.
How much are closing costs?
Typically 1.5%–4% of the price — land transfer tax, legal fees, title insurance, and inspection. First-time buyers often qualify for land transfer tax rebates that reduce this.
Can I buy if I’m new to Canada?
Yes. If you’ve been employed here for a few months there are new-to-Canada mortgage programs — even with limited local credit history.
How much home can I afford?
It depends on your income, debts, down payment, and rates. A free pre-approval gives you a precise, lender-backed number rather than a guess.
Should I choose a fixed or variable rate?
Fixed gives certainty; variable can cost less but moves with the market. The right pick depends on your budget and risk comfort — I’ll explain the trade-offs for your situation.
Does it cost me anything to use a broker?
No. For standard residential mortgages the lender pays the broker, so you get access to 50+ lenders and expert guidance at no direct cost.
What documents will I need?
Usually ID, proof of income (pay stubs or notices of assessment), down payment confirmation, and details of any debts. I’ll give you a simple checklist up front.

Related services

Refinancing · Self-employed · Calculators

Get pre-approved — free

Know your budget and lock your rate before you shop. It takes one quick conversation.

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Go deeper — the answer library

The most useful thing a first-time buyer can know: at a Beacon score of 680 your allowed debt ratios improve from 35/42 to 39/44 — so the same income qualifies you for more.

Open the First-Time Buyer Centre →  ·  All answers →

Buying a builder home or new condo? The new-build centre covers what gets re-checked at closing and the costs resale buyers never meet.

Buying with help from family? Gift, co-signer or co-owner — three very different commitments, and a co-signer is not a backup.