Between saving for a down payment and covering closing costs, every bit of financial help makes a difference. Thankfully, Canadian homebuyers – especially first-time buyers – have access to several government-backed homebuyer incentives and rebates designed to make ownership more attainable.
At Sunlite Mortgage, we help you identify and combine these programs so you don’t leave money on the table.
Each province offers additional savings:
These programs change periodically, so it’s vital to confirm current eligibility before closing.
A FHSA combines the benefits of an RRSP, where contributions are tax-deductible, and a TFSA, where investment growth and qualifying withdrawals for a home purchase are tax-free.
You can contribute up to $8,000 per year, with a lifetime maximum of $40,000.
Smart buyers can often combine multiple programs:
The result? Lower monthly payments and a faster path to ownership.
A first-time buyer in Calgary combined the RRSP HBP withdrawal with the federal incentive and provincial rebate – lowering their initial mortgage by $35,000. That meant smaller payments and earlier equity growth.
We track every available federal and provincial program, helping you determine eligibility and handle documentation. Our goal is simple: make homeownership more affordable – and achievable – for every client.
Read more: Understanding Closing Costs in Canada
Ready to explore your options? Contact Sunlite Mortgage to learn which incentives you qualify for and how to maximize your savings.
Buying a home in Canada is more attainable than most people think. With the right programs, the right plan, and the right broker, you can unlock the full range of benefits designed to help you succeed as a homeowner.
