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What do you need to know as a First Time Home Buyer (FTHB) in Toronto and the GTA? Lots!

Welcome to our FTHB resource. This is an outline of things you need to know about buying your first home in Toronto and its surrounding areas of Halton, Peel, York and Durham Regions.

Buying a home can be nerve-wracking, especially if you’re a first-time home buyer. Not only is it most likely the biggest purchase of your life, but the process is stressful and fraught with unfamiliar lingo and surprise expenses.

There have also been recent changes to mortgage rules by federal and provincial governments in recent years. Below, we guide you through all the steps you need to know about getting a mortgage and buying your first home in Toronto and the GTA.



We’ll cover topics such as:

  • The difference between using an independent mortgage broker and going to your bank for your mortgage
  • How much you need for your down payment
  • How the Home Buyers Plan works
  • The types of lenders that offer mortgages
  • All about your mortgage options (high ratio vs. conventional)
  • How your choice of property affects how much mortgage you can get
  • How your credit and how your other debts affect your mortgage application
  • How much debt you have impacts how much mortgage you can get
  • Getting pre-qualified for your mortgage and what documents are needed
  • The importance of including a financing clause with your offer
  • What happens after your house purchase offer is accepted by the seller
  • What is included in closing costs and how to calculate them


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 Mortgage Agent Lic. M16001744 -- iBrokerPower Capital Inc. (The Mortgage Centre), Brokerage Lic. 10538