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First-Time Home Buyer in Ottawa

Unlock Your Home Ownership Journey with Our First-Time Buyer Mortgage in Ottawa! Apply for a first time home buyer mortgage and get the best competitive rates. Give us a call today or apply online!

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First Time Home Buyer Mortgage in Ottawa

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  • Low down payment:

    it can be as less as 3.5% of the complete loan.

  • Tax benefits:

    Allows homeowners to deduct the interest paid on their mortgage from their taxes.

  • 100% financing:

    offers 100% financing for eligible buyers.

How does First time home buyer mortgage work?

Are you a first-time homebuyer planning on purchasing your dream home? Well, you’re at the right place then! We at Mortgage Loan Ontario would be happy to assist you on this wonderful yet nerve-wracking life-changing financial decision, making sure the process is stress-free. If you have any queries or concerns as a first-time homebuyer, we are more than happy to address them.

We will help you make a well-informed decision when it comes to mortgage for first-time homebuyers. From providing invaluable insights to offering expert advice, you can count on us to ensure you get the best possible interest rates. Let’s help you get started on a new exciting chapter of your life. Call today to schedule an initial consultation.

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First Time Home Buyer Mortgage

Who is a first-time home buyer?

An individual is considered a first-time home buyer if they meet the below-mentioned criteria:

  • They have never purchased property previously

  • They did not occupy a space that their current spouse or partner owned

  • They recently separated or experienced a breakdown of common-law partnership

For first-time home buyer in Ottawa, please do not hesitate to contact the team at Mortgage Loan Ontario today for more details.

Purchase your first house with confidence and optimism

When deciding to purchase a home, especially if it is your first, the most crucial thing to keep in mind is to conduct your due diligence beforehand. Leave nothing to chance. Our team of professionals are here to make sure your home-buying process is smooth and stress-free, which will fill you up with confidence and enthusiasm. From helping you identify properties based on your specific needs to shopping around for the best interest rates, we’ve got you covered.

If you are unsure what is your budget and property type or struggling to get pre-approval, we will make sure you secure your dream of buying your first home with peace of mind. We will be there for you every step of the way making sure you are left by yourself to figure things out.

First Time Home Buyer Mortgage in Ottawa
first time home buyer loan

Incentives for a first-time homebuyer:

Homeownership is not easy and it is a daunting task, especially for a newcomer. Having worked with several clients over the years. We pride ourselves on our success rate in securing them their dream property. We are more than willing to discuss the various incentives that are available to first-time homebuyers. We can steer the whole process smoothly and seamlessly and help you save money in the process. Below mentioned are some of the first-time homebuyer incentives:

  • Up to $4,000 discount on land transfer tax.

  • The homebuyer’s plan in an RRSP enables the borrower to take up to $35,000, and if you are a couple, it is $70,000. The funds withdrawn can be used to make the downpayment on your dream home with no taxes.

  • Loan options are available through the Canada Mortgage and Housing Corporation (CMHC).

Why should first-time homebuyers choose Mortgage Loan Ontario to find a mortgage?

With years of experience in helping first-time home buyers in and around Ottawa with their specific mortgage requirements, we have a lot of invaluable experience. Additionally, we have built sound relationships with various traditional and private lenders to help clients secure a mortgage at the best rates and terms. To request a free, no-obligation estimate, or to help you negotiate a great rate for your mortgage, speak to our team today. Below mentioned are some ways we assist first-time homebuyers:

  • We will introduce our clients to reputable real estate agents, lawyers, and even a home inspector.

  • Helping clients by identifying the best mortgage amount and purchase price based on your income, budget and comfort level.

  • Patiently walk you through the traditional lender’s mortgage contract line-by-line to protect you against any surprises or hidden fine print.

  • Inform clients about any restrictions with a mortgage that may cause you financial challenges in the future.

Mortgage for First time home buyers
What is a First Time home buyer mortgage?
  • Providing a protective layer between the lender and you.

  • Assisting you at every stage of the mortgage progress and providing help as and when required.

  • Patiently advising and educating clients on why you should get a mortgage as a first-time homebuyer.

  • Identify any potential future options like a rental property etc.

  • Ensuring our team is present at every renewal making sure you get the best mortgage renewal rate possible.

  • When the client decides to make an offer on the property, ensure it all goes smoothly with the financial bit.

  • Making clients feel comfortable and ready financially and mentally about applying for a mortgage.

  • Take a look at documents upfront and provide clients with an accurate pre-approval possible.

  • Offer services even after out-of-work hours

  • We are just a phone call or email away to address all your mortgage queries. Trust us, no question is a stupid question.

If you need more details on first-time homebuyer mortgage in Ottawa or looking to apply for one, get in touch with our team today!

How does a First Time home buyer mortgage?
First time home buyer mortgage Canada

Schedule an appointment with Mortgage Loan Ontario today

Qualifying rules for a mortgage constantly keep changing. Additionally, the interest rates also keep fluctuating, leaving you unsure if you should make a lower or higher down payment, or whether you need to apply for a fixed or variable mortgage. Don’t worry, this is where our team of mortgage experts can help.

If you are looking for a mortgage broker that can explain in detail the ins and out’s of mortgage financing for a first-time homebuyer, you cannot go wrong with Mortgage Loan Ontario. We will provide you with the right advice and make the application process simple and straightforward ensuring your specific requirements are met. Get in touch with our experienced mortgage agent today.

Ready to get started on the journey of owning your dream home? We can help!

For further enquiries, you can rest assured; that our team will be more than happy to address them. Give us a call today at +1 416-262-8937 to request a free, no-obligation estimate or to book an appointment.

Simple Steps to avail First Time Home Buyer Mortgage

Save thousands of dollars in your mortgage interest payments


Get pre-approved

Pre-approvals for any type of mortgage requirement.


Avail Competitive rates

Lowest rates guaranteed.


Get cash fast

Cash gets credited within a couple of days.

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Frequently Asked Questions

Some of the rules are:
  • you should be considered a first-time home buyer
  • you should have a written agreement to buy or build a qualifying home. It should be either for yourself or for a related person with a disability
  • You also have to be a permanent resident of Canada when you withdraw funds from your RRSPs under the Home Buyer’s Plan and up to the time a qualifying home is bought or built.
Under a first-time home buyer’s mortgage policy, you can opt for a maximum of 25 years to repay the mortgage amount.
The Canadian government offers the First-Time Home Buyer Incentive to help people purchase their first home. It provides buyers with five (or 10 per cent, if it’s a new home) of the home’s purchase price, in the form of a no-interest loan, to put toward a down payment.
If the market value of a property is 500,000, then the minimum down payment under this policy would be 5% of the total value. However, this can vary based on other factors such as your status in Canada.

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