Buying a home in Canada
Buying your first home in Canada means stacking the right programs, passing the stress test, and budgeting for the costs beyond the down payment. This hub pulls together the government programs, the real costs, and free calculators to run your own numbers — all Canada-specific, all free.
Government programs for first-time buyers
First Home Savings Account (FHSA)
Save up to $40,000 toward a first home — tax-deductible going in, tax-free coming out.
Home Buyers' Plan (HBP)
Withdraw up to $60,000 from your RRSP for a down payment, repaid over 15 years.
First-Time Home Buyer Incentive
How the shared-equity incentive worked, who it suited, and where it stands now.
Land transfer tax rebates
First-time buyer rebates that cut land transfer tax in Ontario, Toronto, and BC.
Run the numbers
Mortgage Affordability Calculator
How much house you can afford on the CMHC ratios and the stress test.
Mortgage Stress Test Calculator
Check whether you pass the OSFI B-20 qualifying rate.
Down Payment Calculator
The minimum down payment for a price, and whether CMHC insurance applies.
CMHC Insurance Calculator
Your mortgage default insurance premium and the all-in monthly cost.
Land Transfer Tax Calculator
Land transfer tax by province, including Toronto's municipal tax and rebates.
Mortgage Payment Calculator
Your payment by rate, amortization, and frequency.
Know the full cost
Closing costs in Ontario
Land transfer tax, legal fees, title insurance, and the other costs beyond the down payment.
Principal residence exemption
Why your home is usually tax-free when you sell — and when it isn't.
First-time home buyer guide
The full walkthrough: programs, the deposit, the offer, and closing day.
From buying to owning
Closing day is the start, not the finish. Once you own, the work shifts to keeping records, tracking maintenance and warranties, and — if you ever rent out a basement suite or move and lease the place — staying on the right side of your province's tenancy rules. That's what Habyn is built for: one place for your property, documents, and money, from first home to rental.
Renting it out down the road? See the rent increase rules by province, the lease agreement guides, and the free landlord tools.
Frequently asked questions
How much down payment do I need to buy a home in Canada?
The minimum is 5% on the first $500,000 of the price, 10% on the portion from $500,000 to $1.5 million, and 20% on homes over $1.5 million. Below 20% down you also pay CMHC mortgage default insurance. Use the down payment and CMHC calculators to see your exact figures.
Can I combine the FHSA and the Home Buyers' Plan?
Yes. A first-time buyer can use both the First Home Savings Account and the RRSP Home Buyers' Plan on the same purchase, stacking the FHSA's tax-free withdrawal with up to $60,000 from your RRSP. The two programs are separate and complementary.
What is the mortgage stress test?
Under OSFI's B-20 rules, lenders qualify you at the greater of your contract rate plus 2% or 5.25%, not the rate you'll actually pay. It's meant to confirm you could still afford the mortgage if rates rose. The stress test calculator shows whether you pass.
What costs come on top of the down payment?
Closing costs typically run 1.5–4% of the price: land transfer tax (often the largest), legal fees, title insurance, a home inspection, an appraisal, and adjustments. First-time buyers may qualify for land transfer tax rebates that reduce the biggest line.
General information only, not financial, tax, or legal advice. Program limits and rules change — confirm the current figures with the CRA, CMHC, and your province before you rely on them.