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Everything you need to know as a first-time home buyer in Toronto

May 19, 2026 · 1:55 pm

Use this tool as a starting point for exploring resources and organizations that help navigate homeownership in the city.

If you’re buying your first home in Toronto, congratulations! It’s no easy feat.

Yara El Murr

If you’re buying your first home in Toronto, congratulations! It’s no easy feat.

Use this tool as a starting point for exploring resources and organizations that help navigate homeownership in the city.

That’s why we’re breaking down tax and savings programs that might help you — plus, information packages and tools from non-governmental organizations and The Green Line’s own handy guides.

First, check out the list, below, of everything you need to be aware of; then, scroll down for a detailed explanation on how to use each resource. If you’d like to explore how each resource listed can help you, just click it to go directly to the explanation.

Tax and savings programs

Non-profit affordable home ownership programs

Organizations that provide useful guides and tools for home buyers

TGL resources:

If you’re interested in exploring more resources for homeowners, options for co-housing or co-ownership, or if you need help with utility bills, check out these step-by-step guides from The Green Line team.

First-time home buyers’ (FTHB) GST/HST rebate

The federal first-time home buyers’ (FTHB) GST/HST rebate is essentially a way for the Canada Revenue Agency (CRA) to give you back some of the tax you paid when buying or building your first home.

  • The rebate is a partial refund of the GST (Goods and Services Tax) or the federal part of the HST (Harmonized Sales Tax) that you pay on a new home purchase.
  • To be eligible, this must be the first home you buy, build or do major renovations on — and you must plan to live in it yourself (not rent out).
  • The rebate applies only to newly built or significantly renovated homes, not resales of old homes. It also applies to shares in a newly built co-op.
  • Find detailed eligibility criteria here.
  • Based on the value of the home, you can get up to $50,000 of your tax payment back. Here’s how it works:
    • If your new home costs $1 million or less, you’ll get 100% of the tax you paid.
    • If your new home costs more than $1.5 million, you don’t get a rebate.
    • If it costs somewhere in between, you get some percentage of the tax you paid back. The calculation is detailed here.
  • There are multiple ways to apply for this rebate, online or by mail. To find out which forms are right for you, go to this page if you bought the home from a buyer or this one if you’re taking care of the construction yourself.
  • The processing time could be a few months, so don’t expect your money back immediately.
  • Make sure to keep your documents saved for six years.

P.S. In its 2026 budget, the government of Ontario introduced an Ontario first-time home buyers’ rebate, in addition to the federal rebate discussed above. There are no details yet on how it will work and how to apply.

GST/HST new housing rebate

The federal GST/HST new housing rebate (not to be confused with the first-time home buyers’ rebate above) is also a way for the CRA to give back some of the tax you paid when buying or building a new home.

  • The rebate is a partial refund of the GST or the federal part of the HST you pay on a new or substantially renovated home that you live in.
  • In Ontario, a similar rebate is also available for the provincial part of HST — regardless of the federal side of things.
  • The rebates apply only to newly built or significantly renovated homes and newly built co-ops, not resales of old homes.
  • Find detailed eligibility criteria here.
  • If you’re eligible and bought your home from a builder, apply here for the federal rebate and here for the Ontario provincial rebate.
  • If you’re eligible and built or renovated your home yourself, fill out this and this for the federal rebate and apply here for the Ontario provincial rebate.

To learn more, check Canada’s GST/HST new housing rebate page.

First Home Savings Account (FHSA)

If you’re a first-time home buyer, the First Home Savings Account (FHSA) allows you to save money tax-free for the purpose of buying or building your first home.

  • During the first year you open an FSHA, you can put up to $8,000 tax-free in the account.
  • Contributions to this account are deductible and can be used to reduce your tax.
  • Eligibility requirements are as follows:
    • You must be between ages 18 and 71.
    • You must be a resident of Canada.
    • You don’t live in a home that you (or your spouse, if you have one) own.
  • First Home Savings Accounts are operated through your own bank or credit union. So, get in touch with your clerk about opening an account.
  • Once you have an FSHA, you need to declare it on your taxes with this form. 
  • You don’t have to pay taxes on money you take out of your FSHA to buy or build your first home, or if you mistakenly deposit above your account’s limit. But if you take money out of your FHSA for any other reason, you might have to pay taxes.

Home Buyer’s Plan

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw money from your registered retirement savings plan (RRSP) to buy or build a home.

  • Eligibility requirements are as follows:
    • You must be a first-time home buyer, or withdraw the money to buy a home for an eligible person with disabilities.
    • You must also have a written agreement to buy or build a home.
    • You must be a resident of Canada.
    • You must plan to live in this new home you’re buying or building.
  • Check all the eligibility requirements here.
  • When you’re ready to withdraw money from your RRSP for this new home, you need to fill out this form and give it to your bank or credit union to complete it.

Land Transfer Tax refunds for first-time homebuyers

When you buy land in Ontario, you pay land transfer tax. First-time homebuyers can be eligible for a refund of all or part of this tax.

  • The refund applies to all homes, whether newly constructed or resale and can reach up to $4,000.
  • Eligibility requirements are as follows:
    • You have to be 18 or older.
    • You (and your spouse if you have one) can’t have owned any homes.
    • You have to be a resident of Canada.
    • You have to apply within 18 months of buying the land.
  • You can claim your refund electronically when you register the land transfer. You can check the details here.
  • If you didn’t claim your refund at registration, you can apply through the Ontario Ministry of Finance under “Applying for a Land Transfer Tax (LTT) Refund/Rebate.”

Toronto’s Home Ownership Assistance Program

Toronto’s Home Ownership Assistance Program (HOAP) defers development charges and other municipal fees for non-profit and private builders, so that these builders can offer down payment assistance to home buyers.

  • Households that earn up to $160,000 can benefit from HOAP.
  • You can’t apply to the program directly. You need to access it through certain builders or developers, including Options for Homes, Habitat for Humanity and Trillium Housing.
  • If you’re interested in any of the three builders that partner with the city through HOAP, you should always do your research before deciding to buy. You can find the basic information on each of them below.

Options for Homes

Options for Homes is a non-profit developer that builds condos and offers down payment assistance to middle-income households through the Options Ready Program.

  • When you buy a condo through Options for Homes, you get a “shared equity second mortgage.” It’s a type of loan where the Options for Homes gives you money for a down payment, but instead of charging you monthly interest, it takes a percentage of your home’s value when you eventually sell or decide to pay back the loan.
  • To join the program, you need to qualify for a bank mortgage and have money saved for a 5% down payment (or 10% if the home is more than $500,000). 

Learn more on Options for Homes’ website.

Habitat for Humanity

Habitat for Humanity is a registered charity that started in Canada and now operates in 60 countries. The organization builds homes, offers training and provides an “Affordable Homeownership Program.”

  • The organization has one building in Toronto at 355 Coxwell Ave. with applications open for one, two and three bedroom units and a move-in date of April 2027.
  • Eligibility requirements for potential buyers in this building include the following:
    • Be a Toronto resident.
    • Complete 150 volunteer hours.
    • Earn between $115,000 and $149,800 as a household (the exact amount depends on the number of people in the household).
    • Save a minimum of $5,000 for a down payment.
  • Habitat for Humanity also has other buildings throughout the GTA and Canada, each with its own set of rules. In some cases, no down payment is required.

Trillium Housing

Trillium Housing is a non-profit corporation that builds and sells homes with a “Trillium Mortgage.”

  • To buy a home in a Trillium Housing development, you’ll need a down payment of a minimum 5% and a mortgage approval from a bank, credit union or mortgage broker.  
  • Then, Trillium works with you to provide a second mortgage, one you don’t have to pay back as long as you live in the house. Instead, Trillium owns shares in the value of your home and receives a percentage of the appreciated value upon sale.
  • You can pay off the “Trillium Mortgage” to take whole ownership of the home. 
  • If you sell or rent out the property, you’ll have to pay off the mortgage as well.

Learn more on Trillium Housing’s website.

Canada Mortgage and Housing Corporation

Canada Housing and Mortgage Corporation, also known as CMHC, provides research, data and insights on how to finance housing for owners and buyers in Canada. It also delivers our country’s housing program.

Here’s what CMHC can offer you as a home buyer:

First Home Ontario

First Home Ontario is an independent tech group using real estate data and municipal bylaws to create financial tools specifically designed for first-time homebuyers in Ontario.

It offers the following:

Home Construction Regulatory Authority

The Home Construction Regulatory Authority (HCRA) licenses and regulates the people and companies who build and sell homes in Ontario. It also provides educational resources, deals with complaints about builders and maintains a directory of licensed professionals.

The Condominium Authority of Ontario

The Condominium Authority of Ontario (CAO) is an organization that was designated by the Government of Ontario to provide services and resources for condo communities. It’s funded by fees paid by condo corporations.

CAO’s Condo Buyers’ Guide is an exhaustive document that can help you if you’re looking to buy a pre-construction or re-sale condo unit. It also explains how condo corporations are formed, how they’re run, what your rights and responsibilities are, and how to resolve disputes.

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