First Time Home Buyer in Kingston?


First Time Home Buyer?

A home is generally considered the best investment most will make in their lifetime.


The first step is to find out how much you can afford. My Mortgage Calculator can help.

As exciting as looking for your first home may be, the crucial first step is to be sure you get a mortgage pre-approval. In the current Kingston home market moving at such a fast pace it will help you immensely to have your financials in order before you look. I have helped many first timers buy their first home in Kingston and across Eastern Ontario. Nothing is more exciting for me than working with someone so eager to get that house they’ve been searching for. I take the time to sit down with you one on one to make sure the process is simple, by making sure everything is in order as well. When researching a first time home buyer mortgage Kingston, there is a lot of information out there that can overwhelm you. I am a trusted mortgage professional and mortgage agent in Kingston. I enjoy helping you obtain your mortgage and prepare you to buy your first home.


Below is a list of great programs, rebates and tax credits available to help reduce some of the costs of buying your first home.


Home Buyer's Tax Credit

You can receive up to $750 back from the federal government by applying for the home buyer tax credit in the year the home was purchased.

You will qualify for the HBTC if:


  • you, your spouse or common-law partner acquired a qualifying home; and
  • you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.

To obtain the tax credit, complete line 369 on your personal income tax return. If you buy a house, with a spouse or common-law partner, either one of you can claim the credit or you can share the credit. However, the total of your combined claims cannot exceed $750. You must occupy the home as your principle residence no later than one year after the home was purchased. For more information see home buyer tax credit or HBTC.

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UP TO $25,000

First Time Home Buyer's Plan RRSP

The First Time Home Buyers RRSP Plan (HBP) allows first time home buyers to withdraw up to $25,000 from RRSPs to buy or build a home for yourself or for a related person with a disability. The withdrawn amount must be repaid within 15 years, subject to a minimum annual repayment that is 1/15 of the amount withdrawn. If the full $25,000 is withdrawn, the minimum annual repayment is $1,667. If less than the minimum is repaid in any particular year, the balance is added to the taxpayer’s income. To qualify for the First Time Home Buyers Plan, an individual must not have owned a home during the last 4 full calendar years. For more information see the RRSP Home Buyers Plan.

Now that you know the process involved in becoming a first time home buyer, we invite you to take a look at the information on our pre-approval process. This process takes just minutes, giving you time to focus on other things.