Buying a home is a significant goal for many Ontarians; but the path to homeownership presents many financial hurdles. Saving a sufficient down payment is tough enough on its own and when coupled with rising interest rates and tough qualification rules – which includes a mortgage stress test– affording a home becomes very difficult for some. Luckily, there are plenty of grants available to help you out – especially if you’re a first-time homebuyer in... [read more]

For first-time homebuyers, navigating the mortgage world can be quite overwhelming. There are a lot of different terms, concepts and options that can be confusing for anyone embarking on the journey of homeownership. It is Always encouraged you speak in person with a specialist in the field. How much are you able to afford? What sort of benefits are you looking for? What do you want to achieve in the end? Based on your needs, your bank can provide different options, he says. Anderson... [read more]

  The Ontario Home Ownership Savings Plan (OHOSP) has already helped more than 250,000 first-time buyers realize their dreams of home ownership. This article explains how an OHOSP can help you save for your first home. It describes the eligibility requirements for opening a plan, OHOSP tax credits and other details about the program. How the Plan Works If you earn less than $ 40,000 (or if you and your spouse have a combined income of less than $ 80,000), you can benefit from... [read more]