Who qualifies as a first-time home buyer in Canada?

A first-time home buyer in Canada is typically someone who has never owned a home before or has not owned a home in the last four years, depending on program eligibility.

How much down payment do first-time home buyers need in Canada?

The minimum down payment in Canada starts from 5% for homes under $500,000, but it may increase for higher property values.

What is the benefit of mortgage pre-approval?

Mortgage pre-approval helps first-time buyers understand how much they can afford and strengthens their offer when buying a home.

Does Khan Mortgages help first-time home buyers across Canada?

Yes, Khan Mortgages provides first-time home buyer mortgage services across all cities in Canada, including Mississauga and surrounding regions.

Empowering First Time Home Buyers in Mississauga to Own the Future

Your first home is more than an address it's your foundation. At Khan Mortgages, we simplify the path for First Time Home Buyers, maximizing your grants, rebates, and tax-free savings to ensure you step into the Mississauga market with confidence.

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Navigating the 2026 First-Time Home Buyer Journey

Entering the real estate market for the first time requires a strategic partner who understands the latest federal and provincial incentives. At Khan Mortgages, we specialize in helping First-Time Home Buyers in Mississauga leverage the enhanced Home Buyers’ Plan (HBP), which now allows for a tax-free withdrawal of up to $60,000 from your RRSP ($120,000 for couples). We also integrate the First Home Savings Account (FHSA) into your plan, enabling you to save up to $40,000 tax-free toward your down payment. Our team ensures your application aligns with the latest Canada Mortgage and Housing Corporation (CMHC) Home Start guidelines, which offer 30-year amortizations to improve monthly affordability for new entrants.

Whether you need a standard First Mortgage, a Second Mortgage for renovations, or a Private Mortgage to bridge a gap in traditional qualification, our Mississauga experts are here to secure the best rates and lowest closing costs. Contact Khan Mortgages today to receive your custom first-time home buyer roadmap and start your journey toward homeownership in Mississauga.

Private Mortgage

Looking for a loan or a mortgage when you have a bad credit score or a bankruptcy in your name can be highly frustrating. Helping you get the Private Mortgage you need.

Bad or Poor Credit

Do you have bad or poor credit and are trying to get a mortgage but it's proven to difficult? We might be able to help. We have options to help those with bad credit get the mortgage they need.

Home Equity Line of Credit (HELOC)

A HELOC can be a great way to access needed money for those important things that come up in life. Helping you get the Home Equity Line of Credit you need.

Self-Employed Mortgages

We work with lenders from all across Canada that offer excellent mortgage options for self-employed Canadians like yourself. Helping you get the Self-Employed Mortgage you need.

First Time Home Buyers Mississauga

Why Choose Khan Mortgages?

- Incentive Maximization: We ensure you claim every dollar, from the $4,000 Ontario Land Transfer Tax Rebate to the federal Home Buyers’ Tax Credit.
- 30-Year Amortization Access: As of 2026, we help eligible buyers access longer repayment terms to lower monthly costs on new builds and designated properties.
- Credit Building Support: Not quite ready? We provide a clear path to improve your score for the best bank-rate approvals.
- Localized Expertise: We know every Mississauga neighborhood and provide insight into which areas offer the best value for First-Time Home Buyers.

How does it work?
How do I get started?

At Khan Mortgage, we’ve simplified the mortgage process to make it as easy and seamless as possible. Our network of experienced mortgage professionals will guide you through every step of the way.

1. Find an Agent or Broker

Find the expert you want to collaborate with.

2. Apply Safely Online

Approximately 5 minutes is all you need.

3. Get Your Funding Fast

When all goes according to plan, funding is swift!

First Time Home Buyers

frequently asked questions

Find answers to your most pressing mortgage questions in our Frequently Asked Questions section.

What is the minimum down payment for first-time home buyers in 2026?

In Canada, the minimum down payment is 5% on the first $500,000 of the purchase price and 10% on any amount between $500,000 and $1,499,999. Properties over $1.5 million require a flat 20% down payment. Khan Mortgages can help you calculate your exact requirements based on current Mississauga listings.

Can I use both the RRSP Home Buyers’ Plan and the FHSA together?

Yes! This is one of the most powerful strategies for First-Time Home Buyers. You can combine your $60,000 RRSP withdrawal with your FHSA savings (up to $40,000 plus growth) to create a substantial down payment, significantly reducing your monthly mortgage costs.

What is the Ontario Land Transfer Tax Rebate for first-time buyers?

Eligible first-time buyers in Ontario can receive a rebate of up to $4,000 on the provincial land transfer tax. If you are buying in Toronto, you may also be eligible for an additional municipal rebate. Our team at Khan Mortgages ensures these rebates are correctly applied by your lawyer at closing.

Does Khan Mortgages work with buyers who have a lower credit score?

Absolutely. While a score of 600+ is ideal for CMHC-insured loans, we have access to Private Mortgage and alternative lenders who specialize in helping First-Time Home Buyers with “bruised” credit. We focus on your long-term success and getting you into the market today. Contact Khan Mortgages today to review your options.