Help for First-time Home Buyers
Buy your first home with a little help
Finding enough money to afford your first home can be intimidating. Don’t stress! There are several government programs and mortgage options that make things easier for first-time home buyers.
First-Time Home Buyer Incentive
This program from the Canadian government helps lower mortgage costs for first-time home buyers. If you qualify, the government will offer 5% for the purchase of a home or 5% or 10% for a new construction as a shared equity mortgage. This helps reduce your mortgage payments without increasing your down payment.

Home Buyers’ Plan

Through this plan you can withdraw up to $35,000, in one calendar year, from your RRSP to buy or build a qualifying home. You need to pay back this amount within 15 years.
First-Time Home Buyers’ (FTHB) tax credit
You can claim a $5,000 income tax credit from the government the same year you buy a home.
Learn more about the First-Time Home Buyers’ (FTHB) tax credit

Meridian mortgages perfect for first-time home buyers
High ratio mortgages
Get a mortgage without a 20% down payment. It’s a great way to afford your dream home sooner.
Friends and Family Mortgage
It’s easier to buy with a little help. This option lets you join forces with your family or friends to afford a home. You can use this option to apply for any Meridian mortgage.
Learn about mortgages
Questions? There are several ways to get in touch