First-time buyers
Seven stages. You are here.
The whole process in order, with what to do at each stage and the tool that helps. Mark your place and the site keeps it; the checklist for the next stage arrives when you get there.
Stage 1 of 7
Affordability
Know the ceiling before you fall for anything. Lenders size you at 39% of income for housing and 44% for all debt, tested at the greater of your rate plus 2% and 5.25%.
- Run the affordability tool with real numbers
- Decide your comfortable price, not your maximum
- Open a First Home Savings Account: $8,000 a year, $40,000 lifetime, deductible going in and tax-free coming out
- Start your Home DNA so every listing is scored against it
General information for Ontario as of September 2026, not legal, tax or mortgage advice. Rules cited: Trust in Real Estate Services Act (RECO), CMHC insurance rules, the OSFI stress test, Ontario and Toronto land transfer tax, and the federal Income Tax Act. Confirm specifics with your lawyer, lender or accountant.