Taking the first step to purchasing your first home can seem overwhelming and you may not know where to start. Not to worry,  we will be there every step of the way and we will walk you through everything to make it an easy, stress-free process.  

MWR | Building Inspection Rebate ( up to $350.00)

It is important to us to make sure our clients are buying a sounds and safe property so we will cover the cost of your Building Inspection up to $350.00. * payable by cheque after closing.*  *Valid for MWR Realty Team clients only.

MWR | Buyers Rebate ( 0.05% back to you on purchase)

When you purchase a property with MWR  you are eligible to receive the MWR Buyers Rebate, you will receive is .05% of the purchase price, payable by cheque after closing.*

Example : Buy $600,000.00 x .05% = $ 3,000.00 TOTAL MWR BUYERS REBATE *Valid for MWR Realty Team clients only.

First-Time Home Buyer Realtor Cost ($0.00)

As a buyer, you do not pay any commissions. Essentially, purchasing a home is free using a relator.The Realtor gets paid commissions buy the seller of the property you purchase. 

First-Time Home Buyer Grants ( credit $750)

As a first-time homebuyer, you’ll want to take advantage of various grants offered by various levels of government that will help make purchasing a home more affordable. Here are the key grants available to you if you’re buying a home for the first time:

The Home Buyers' Tax Credit, at current taxation rates, works out to a rebate of $750 for all first-time buyers. After you buy your first home, the credit must be claimed within the year of purchase and it is non-refundable.


In addition, the home you purchase must be a 'qualified' home, described in more detail below. If you are purchasing a home with a spouse, partner or friend, the combined claim cannot exceed $750.To receive your $750 claim, you must include it with your personal tax return under line 369.2


You must have the intention of residing in the home within one year of purchase. To claim the tax credit, it must be registered in your name or your spouse’s name. In addition, you can’t have owned a home within the prior four years or have lived in a home owned by your spouse within that same timeframe. Finally, you must have documentation of your purchase.

First-Time Home Buyers LLTT Rebate ( up to $4,000.00)

First-time homebuyers in Ontario can qualify for a rebate equal to the full amount of their land transfer tax, up to a maximum of $4,000.

To qualify for the Ontario Land Transfer Tax Refund for First-Time Homebuyers, you must meet the following criteria:

  • You must be a Canadian citizen or permanent resident of Canada,
  • You must be 18 years of age or older,
  • You must live in the home within 9 months of purchasing it,
  • You cannot have owned a home before, and
  • If you have a spouse, they cannot have owned a home during the time they have been your spouse.

Based on the Ontario land transfer tax rates, the rebate will cover the full tax amount up to a maximum home purchase price of $368,333. For homes with purchase prices over $368,333, homebuyers will qualify for the maximum rebate, but will still owe the remainder of their land transfer tax. If you are buying your home with your spouse, but only one of you qualifies for this rebate, you can still receive 50% of the rebate.

Who gets you the refund?

If you qualify, your real estate lawyer will help you file the necessary paperwork.

For more information, visit the Land Transfer Tax Refund for First-Time Homebuyers website.

See how much you will get back with the MWR LTT calculator:

CLICK HERE * Make sure to click First Time Home Buyer

RRSP First-Time Home Buyers Plan

(Tax Free Money) One great source of funding for your mortgage down payment is a Registered Retirement Savings Plan (RRSP). The Canadian government's Home Buyers' Plan (HBP) allows first time home buyers to borrow up to $25,000 from your RRSP for a down payment, tax-free. If you're purchasing with someone who is also a first-time homebuyer, you can both access $25,000 from your RRSP for a combined total of $50,000. However, since the HBP is considered a loan, it must be repaid within 15 years.

Government of Canada First- Time Buyer Incentives

 (UP TO $3,000.00 per year) Helping first time home buyers to reduce monthly payments, saving them by hundreds of dollars a month.

The Federal Government is also offering the opportunity to stay up-to-date about the First-Time Home Buyer Incentive as new changes become available. To sign up for these updates, please visit https://www.cmhc-schl.gc.ca/en/nhs/canada-first-time-home-buyer-incentive.


What Is The Deposit For?

A deposit is always required once your offer is accepted. This amount varies with each house. You do not always have to give the deposit they are asking. The deposit is held in the seller’s Brokers trust account and is returned to the buyer if the deal does not work out.

When the time comes to close on your home, the money from your deposit will be credited towards the purchase price and becomes part of your down payment. The down payment is the portion of the purchase price that will not be financed through a mortgage — it's paid out of your pocket

What is the purpose of the deposit in a real estate transaction?

1) To act as consideration for the deal

2) To bind the buyer to the contract.

3)  Is part of your down payment  

Why do I need a Lawyer ?

A lawyer will do a series of searches and generate documents when processing a home sale transaction. This includes: a title search (which verifies that a seller legally owns the property and searches utility and tax departments to make sure there are no liens against the property), registering the title deed and mortgage, where applicable septic tank and potable water searches.


On top of these fees there are also disbursement costs, fax/phone and mail costs and other costs of doing business. While title insurance is not mandatory it is a very good idea. It protects you against mortgage fraud, identity theft and forgery and can protect you against fees and costs that were not caught in the searches your lawyer conducted prior to the sale (and this happens!). 

What is CMHC ?

(Get approved with as little as 5% down) 

What is CMHC?

Mortgage default insurance—often known as CMHC Insurance—may seem like a strange concept, but it’s relatively straightforward. If you have a down payment of less than 20% of the home’s value, you must purchase mortgage default insurance. But this doesn’t act as insurance for you. Rather, it protects your lender in case you don’t make your mortgage payments. It’s designed to make financial institutions comfortable with lending to individuals who don’t have a large down payment.

How is It Calculated?

In Canada, you must put down a minimum of 5% as a down payment on your home. However, this only applies to homes with a purchase price of less than $500,000. It’s important to note that if you’re buying a home costing between $500,000 and $1 million, the federal government recently increased how much you must place as a down payment. With the new rules, you have to put down 5% for the first $500,000 but 10% on the amount between $500,000 and $1 million.

CMHC insurance isn’t available for homes with a purchase price of more than $1 million. As a result, anyone buying a house in excess of this amount must have at least 20% as a down payment on their purchase.

See how much you will pay for CHMC based on your down payment and mortgage : CLICK HERE

information compliments of ratehub.ca


1. Find a Realtor

Find a Realtor to assist you. Ask questions what experience do they have ? What was is their personal real estate journey, as this will be a direct reflection of yours. Have the worked with many First-Time Home Buyers?

2. Get a Pre-Approval from your Mortgage Agent

A mortgage pre-qualification can be useful as an estimate of how much you can afford to spend on your home, but a pre-approval is much more valuable because this means the lender has checked your credit and verified your documentation to approve a specific loan amount so you know what price range you will be looking at.

3. House Hunting

House hunting can be a lengthy process. Think about your immediate needs, future needs and lifestyle. When you look at homes, you may be tempted to concentrate on the home, but don’t forget to look at the whole property: the lot, the neighbourhood, the surroundings. How close is the home to facilities and services important to you? You can always change the house NOT the location. You may end up seeing multiple homes in one day.

This CHECK LIST will help you compare and keep track of the homes you visited and help you remember the features you did or didn’t like about the home.

4. Make an Offer

You found a home you really like ! Your agent presents the offer to the seller’s agent. This document includes the price, conditions, deposit and closing date. The seller either accepts, rejects or counters the offer (also called “signing back” the offer). Offers are usually conditional on the below,  but can also include other items that your agent would recommend looking into before jumping all the way in.

Home Inspection

Hiring an inspector is voluntary, but it’s a smart idea for resale homes. You can choose to make your offer to purchase the home conditional on the outcome of your inspection. If your inspection reveals major problems, you can negotiate those repairs with the seller before your deal closes, or legally withdraw your offer. * WE COVER THIS COST FOR FIRST TIME HOME BUYERS  (up to $350) payable at closing

Once your offer is accepted, contact your Mortgage Specialist to get you officially approved by a lender for that particular property. Sometimes lenders will want to come in and appraise the house as well. Some lenders will cover the cost of the appraisal. The average cost of the appraisal is $200 to $300.  This step will get you a written commitment which guarantees the lender will finance your purchase, assuming all the information you provided is true.

Status Certificate (Condominiums)

To find out the financial standing of the condominium and if there are any upcoming special assessments.  

Confirmation of Insurance

 It is always a good idea to get confirmation that your insurance company will insure your new property and confirm your new rate. Some older properties may have tougher times obtaining insurance due to things like; knob and tube electricity or fuse panels, distance from emergency services, valid permits for additions, types of materials used in the manufacturing of the house etc.

Septic & Well insepction ( Rural Properties, Not on city systems) 

 If you property in on well and septic it is alway a good idea to have this checked by a professional. Replacing a complete septic system could be upwards of $40,000k. 

4. Fulfilling your Conditions

You have usually 5 business days to fulfill your conditions. Once they are fulfilled to your satisfaction, you would then sign a "Notice of Fullfillment" stating you have fullfilled your conditions and your deal is now FIRM. 



1.  Set up Utilities (Gas, Hydro, Cable, Water Heater Rental)

We will get the details as to what company the property is currently with. Then you will call the utility companies of your new property to make sure they have been transferred to your name and any other details. Some may require deposits.

2. Set up Home Insurance

Arrange Home insurance on your new property. 

3. Signing or the Mortgage papers and Lawyer

About 1 week before closing you will ...

Mortgage- You will go and sign final papers for the mortgage agent.

Lawyer -Your Lawyer will more then likely ask you at this time to bring a bank draft for the remaining balance for the down payment, the lawyer handles all the money transferring in a Real Estate Transaction.

4. Closing Day

This is the day you legally get possession of the house. Your lawyer completes the paperwork, payments are finalized, and you receive the deed and the keys. Usually you will not be allowed to enter your new home till 6:00pm the day of closing.

MWR -Married With Real Estate - Realty Team, Waterdown | Ryan Zogala, Real Estate Sales Representative, Right At Home Realty Brokerage Inc. | Melissa Zogala, Home Staging & Marketing Director, Stage it Pretty | Real Estate WATERDOWN | Real Estate CARLISLE | Real Estate FLAMBOROUGH | Real Estate BURLINGTON | Real Estate HAMILTON