What is the minimum down payment for a first home in Canada?

The minimum down payment is 5% for the first $500,000 of the purchase price, and 10% for any amount between $500,000 and $999,999. Homes over $1 million require 20% down.

What incentives are available for first-time home buyers in Ontario?

First-time buyers can access the RRSP Home Buyers' Plan (withdraw up to $60,000 tax-free), the Land Transfer Tax rebate (up to $4,000 in Ontario), and the First Home Savings Account (FHSA) for tax-free savings.

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