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For informational purposes only. Not financial, legal, or professional advice. Consult a licensed mortgage professional before making decisions. See full disclaimer

FAQ Library
Purchasing•Verified 2026-02-18

What federal programs apply to all provinces?

Need a Deeper Breakdown?

Read the full research guide this FAQ was derived from for more context and strategy.

Technical Research Verification

Our systems synchronized 2 data points and regulatory frameworks to verify this technical brief.

Read the deeper guide · Purchasing

First-Time Home Buyer Programs by Province: 2026 Canada Guide (Rebates, Exemptions & Savings)

Related Questions

How does mortgage insurance enable lower down payments?

Mortgage insurance lowers the risk for lenders, allowing them to offer mortgages to borrowers with down payments between 5% and 20%.

How will lenders evaluate my debt service ratios, and what key factors are considered?

Lenders assess your ability to repay the mortgage by calculating your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios.

What property considerations impact my mortgage application?

Lenders carefully assess the property's value and characteristics, directly influencing the loan amount you can secure.

How does the 'straight switch' exemption benefit you at renewal?

The 'straight switch' exemption lets uninsured mortgage borrowers move their mortgage to a new federally regulated lender (FRFI) at renewal without needing to pass the Minimum Qualifying Rate (MQR) .

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Three key federal programs are available coast-to-coast: (1) Home Buyers' Plan (HBP): withdraw up to $60,000 from RRSPs ($120,000 per couple) tax-free for a first home, repayable over 15 years.

(2) First Home Savings Account (FHSA): contribute up to $8,000/year ($40,000 lifetime) with tax deductions on contributions and tax-free withdrawals for a qualifying home purchase. (3) 30-year amortization for first-time buyers on insured mortgages (Dec 2024 reform). All three stack with provincial programs.