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    Sutton Group Realty Systems

    Brokerage

    Sutton Group Realty Systems Inc., Brokerage

    iTorontoRentals First Time Buyer Incentive Banner

    Great News for First Time Buyers

    More government incentives that can help bring home ownership dreams to reality!

    The First Time Buyer Incentive Program

    The First Time Home Buyer Incentive helps qualified first time buyers reduce their monthly mortgage carrying costs without adding to their financial burdens. Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadians, on a First Come First Service Basis.  


    Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P.  Just keep in mind this is a C.M.H.C. insured mortgage program. Total down payment is to be “less” than 20% downYou can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction.  Simplified, this is a shared equity mortgage program with the Government of Canada. 


    The Incentive funds will be a second mortgage on title.  There will be no regular principal payments, no interest and has a maximum repayment term of 25 years or sooner if the property is sold. You can repay the Incentive at any time without a prepayment penalty.  However, the repayment is based on the property’s fair market value.


    The Government will share in the upside and downside of the property value upon repayment.   Essentially the government is re-paid by their shared equity from the value of the property.


    How Does it Work?

    The incentive enables first-time homebyers to reduce their month morgage payment without increasing their downpayment. The incentive is not interest bearing and does not require ongoing payments.


    Through the First-Time Home Buyer Incentive, the Government of Canada will offer:

    5% for a first-time buyer's purchase of a re-sale home

    5% or 10% for a first-time buyer's purchase of new construction

    An example, you receive a 5% incentive of a resale home that you purchase for $480,000, and you receive a $24,000 incentive, then perhaps your home value increases to $600,000 your payback would be 5% for the current value which would be $30,000. 

    Eligibility and Requirements

    Who Can Apply?


    • Canadian citizens, permanent residents, and non-permanent residents who are legally authorized to work in Canada


    • Borrowers must have a maximum qualifying income of $120,000
      • Total qualifying income must be $120,000 per year or less
      • This is subject to qualifying income requirements set out by lenders and mortgage loan insurers


    • ​At least one borrower must be a first-time homebuyer


    More Information and Resources

    For more First Time Home Buyer Incentive Program Details download more information below. 


    Home Buyers Government Incentives - Down Payment Program


    A simple example would be if your combined income is 120,000 x 4 the maximum purchase price would be $480,000 plus the down payment. There is a scaling price based on your down payment and the governments incentive so we have created a spread sheet for easy reference.


    Maximum Purchase Price Charts for the First Time Buyers Program


    Call us today for more details at 416-896-3333 for this and other Government Programs available to help you with Home Ownership. Funds are limited, and timing is important, so please ensure to get all the details for a well-planned home purchase.


    Your Sutton Realty agent will have a list of resale and new construction developments in your selected area. 



    Happy House Hunting from your Sutton Realtor

    Featured Listings Under $600,000

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    MLS®#:C4915963
    Status:Sale Pending 
    Type:Condominium
    Community:Niagara - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Spectacular 1 Bedroom Plus Large Den (Used As 2nd Bedrm) With Closet, 9' Ceilings,Modern Kitchen With Quartz Counter Tops,Stainless Steel Appliances,Fresh Move In Ready! Laminate Flrs, Premium View! Open Your Door To Unobstructed Views! Peaceful Mornings Overlooking Lake, Stadium And City! Trendy Restaurants, 24Hr Metro, Ttc. World Class Amenities!....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:X4919828
    Status:For Sale 
    Type:Condominium
    City:Grimsby
    • 1+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Incredible Investment Opportunity To Own A Lakeview Property In This Highly Sought-After Grimsby Lake Community. Beautiful Views Of Lake Ontario And The Niagara Escarpment In This Spacious 1059 Sq. Ft Corner Unit. Two Bedrooms, 2 Full Baths, Large Great Room, Engineered Hardwood Floors Throughout, Granite Counters In The Kitchen, Quartz Counters In....More details

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    • 1+0

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:W4919004
    Status:For Sale 
    Type:Condominium
    Community:Appleby - Burlington
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    Nestled On The Border Of Oakville & Burlington, This Luxury Retirement Residence Is Steps From The Lake Ontario & Close To Shopping, Seniors Rec Centre, & Has Great Hwyy Access. This 1 Bed+Den Features New Laminate Vinyl Floors, Large Master With Wic, Open Concept Living/Dining Area, 4-Piece Bathroom And Beautiful Views. The List Of Amenities Inclu....More details

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    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    $449,900

    5 Bells Park Rd

    MLS®#:S4905102
    Status:Sale Pending 
    Type:Residential
    Community:Wasaga Beach - Wasaga Beach
    • 2+1

    • 1

    Completely Updated 2+1 Bdrm (~1750Sqft Fin) Bungalow. Bright Open Eat-In Kit W/Corian Countertop, Fr, St, D/W, B/In Microwave. Large Mstr W/Walk-In Closet Plus Fin Bsmt. New Shingles In 2019, Newer Flring, Furnace, A/C, Windows, Landscaping, Updated Deck & Fencing. Fantastic Craftmanship & Attention To Detail Throughout...Truly Move-In Ready. Wheth....More details

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    • 2+1

    • 1

    MLS®#:X4910806
    Status:For Sale 
    Type:Condominium
    City:Waterloo
    • 1+1

    • 1

    • Area:

      500-599 Sq Ft

    Amazing 1+1 Bed Plus Den Just Across Wilfred Laurier University And University Of Waterloo. An Ideal Investment For Parents/Students Who Can Use And Also Rent The Location To Students With Many Amenities. Great For Two Students And Access To Transport Which Can Take You To Nearby Malls And Shopping With Ease And Across Campus In Minutes. Furnishing....More details

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    • 1+1

    • 1

    • Area:

      500-599 Sq Ft

    MLS®#:W4908664
    Status:For Sale 
    Type:Condominium
    Community:Islington-City Centre West - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Beautiful Move-In Ready 1 Br + Den Condo In The Heart Of Islington-City Centre West. Functional Layout Of Approx. 670 Sq. Ft. Combined Living And Dining With Walk-Out To Open Balcony With Unobstructed South West Views. Laminate Floors Throughout, Impressive Open Concept Eat-In Kitchen, Spacious Den For A Home Office Or Formal Dining & Premium Buil....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:X4913481
    Status:For Sale 
    Type:Condominium
    Community:Rideau - Ottawa
    • 1

    • Area:

      0-499 Sq Ft

    ***K F Team Special*** Welcome Home To The Heart Of Downtown Ottawa! Spacious Balcony, Luxurious Kitchen Featuring Modern Open-Concept, High Quality Kitchen Cabinets, Stacked W/D, Engineer Oak Hardwood Floors, Ceramic Floors, Quartz Countertop, Stainless Steel Appliances. Beautifully Painted And Sunny Unit Is Walking Distance To The University, Pa....More details

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    • 1

    • Area:

      0-499 Sq Ft

    MLS®#:X4911053
    Status:For Sale 
    Type:Residential
    City:Cambridge
    • 3

    • 3

    • Area:

      1100-1500 Sq Ft

    This Immaculate Home Is Located In A Very Popular North Galt Neighbourhood And Features Over 2200 S.F. Of Finished Living Space. Home Has Been Extensively Updated And Has Modern Finishes And Fixtures Throughout.

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    • 3

    • 3

    • Area:

      1100-1500 Sq Ft

    MLS®#:W4891007
    Status:For Sale 
    Type:Condominium
    Community:City Centre - Mississauga
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Spectacular Location, Full Unobstructed View, Rarely Available Ph Suite Stunning 1 Bedroom + Den W/ Boasting High Ceiling, Combined Living & Dinning Rm, Eat In Kitchen W/ Granite Counter, Mirror Backslash, Newer Appliances, Spacious Master W/ Oversize Closet, Office/Den. Square One Area, Qew/403/401, Parks, Public Transit, Schools, Restaurants, Ent....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:C4890422
    Status:For Sale 
    Type:Condominium
    Community:Waterfront Communities C1 - Toronto
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    Prime Location In The Cityplace, One Of The Largest Residential Developments Ever Constructed In Toronto. Beautiful One-Bedroom Corner Unit With Stunning Unobstructed Views At Parade Ii. Floor To Ceiling Windows, Laminate Flooring. Steps To Ttc, Supermarket, Restaurants, Parks, Minutes From Ripley's Aquarium,Air Canada, Rogers Centres And The Cn T....More details

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    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    $599,900

    412 - 12 Rean Dr

    MLS®#:C4865852
    Status:For Sale 
    Type:Condominium
    Community:Bayview Village - Toronto
    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    Enjoy Luxury Living In Bayview Village In This Fabulous Home And Rare, Sought After Building. Large 790Sqft Open Concept With Hardwood Floors, Walk-In Closet, Granite Countertops In The Kitchen, With Many Luxury Amenities Such As Party Room, Outdoor Patio/Garden, Indoor Pool, Gym And More! Only 5 Minute Walk To Bayview Subway And Bayview Village M....More details

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    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    MLS®#:E4917556
    Status:For Sale 
    Type:Condominium
    Community:Bay Ridges - Pickering
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    Rare Penthouse Opportunity! By Award Winning Builder, San Francisco By The Bay 3. North Views Of Durham Like No Other. Beautiful Upgrades, Quartz Counter Tops, Cabinetry, Vinyl Flooring, Lighting, Switches, 9 Foot Ceilings. Min To Go Station & 401, Steps To Lake Ontario & Frenchman's Bay. Great Shopping All Amenities, Greenbelts And Conservation Ar....More details

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    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    MLS®#:C4923503
    Status:For Sale 
    Type:Condominium
    Community:Church-Yonge Corridor - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Welcome To 76 Shuter St. Rare South Facing Opportunity W/ Parking & Two Lockers Included, All About The Location, Lifestyle & Opportunity W/ This Unit. Spacious One Bedroom + Den, The Den Can Easily Be Used As Second Bedroom Or Office. Location Doesn't Get Any Better!! Freshly Painted, Open Concept W/Kitchen Great For Entertaining. A Must See, Wont....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:E4918854
    Status:For Sale 
    Type:Condominium
    Community:Bay Ridges - Pickering
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Beautiful Bright Rarely Offered 1 Bedroom + Den. Close To Waterfront, Conservation, Green Space, Go Train, 401, Restaurants, Amazing Location! Upgraded Contemporary Finishes, Laminate Floors, Tiled Lobby Entrance, Kitchen, Bathroom & Laundry- No Broadloom. Granite Countertops, Open Concept, Large Windows, Lots Of Natural Light, All About The Lifest....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    $539,800

    170 Dewell Cres

    MLS®#:E4919790
    Status:For Sale 
    Type:Residential
    Community:Courtice - Clarington
    • 3+0

    • 3

    Open Concept F/H Townhome In Fantastic Family Community, Near1500+ Sqft! Close To Schools,Rec Center/Arena, Shopping & Transportation!No Neighbors Across The St.Open Concept Main Floor W/Foyer & Powder Rm.Engineered Hardwood Floors, Updated Kitchen Cabinets Quartz Countertop & Back Splash.Modern B/F Bar For Casual Dining W/Built-In Sink.Walk-Out Ba....More details

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    • 3+0

    • 3

    MLS®#:W4906905
    Status:For Sale 
    Type:Condominium
    Community:Mississauga Valleys - Mississauga
    • 3+0

    • 1

    • Area:

      900-999 Sq Ft

    Welcome To This Beautiful 3 Bdrm Condo! One Of The Best & Spacious Layouts In The Building. Large & Functional Living Room. Modern Kitchen Opened To Dining Room. Walk-Out To Balcony From Living Room. Very Bright & Sun Filled Unit. Laminate & Ceramic Floors Full Bathroom! Large Closets.. Very Well Maintained Building, With Indoor Pool, Gym & Tennis ....More details

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    • 3+0

    • 1

    • Area:

      900-999 Sq Ft

    $575,000

    6 - 2460 Post Rd

    MLS®#:W4916866
    Status:For Sale 
    Type:Condominium
    Community:Uptown Core - Oakville
    • 2+0

    • 2

    • Area:

      900-999 Sq Ft

    Highly Desired 995 Sqft Two Level Upper Stacked Townhouse Facing Quiet Street! Live Luxuriously W/ Laminate Flooring On All Lvls & New Ktchn Bksplsh! Open Concept Layout W/ South Facing Windows Make Home Feel Airy Bright & Spacious! Bdrms And Ldry On Upper Level Ensure Maximum Privacy And Convenience! Lrg Balcony Facing Beautiful Garden! Upgraded B....More details

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    • 2+0

    • 2

    • Area:

      900-999 Sq Ft

    MLS®#:X4893881
    Status:For Sale 
    Type:Residential
    City:Cambridge
    • 3+0

    • 3

    1400 Sqft, 3 Bedroom, Well Maintained, Bright And Spacious Townhome. Located In Desirable Family Friendly Upper Country Club Estates Neighbourhood Of North Galt. Quiet Street With Very Little Traffic. Perfect For Growing Families And Professionals Making Commutes Being Minutes To The 401. Close To Shopping, Schools And Public Transit. Open Concept ....More details

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    • 3+0

    • 3

    MLS®#:X4915818
    Status:For Sale 
    Type:Condominium
    Community:Inch Park - Hamilton
    • 2+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Steps From Sam Lawrence Park At The Top Of The Escarpment Is Where You Will Find This Rarely Offered Main Floor Unit. The Imperial Suites Are Host To Only 27 Units Total. Notice The Lovely Terrace Accessible From The Main Living Space. This Unit Is Filled With Natural Sunlight. The Modern Open Concept Design Is Carpet Free, Featuring Vinyl Floor....More details

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    • 2+0

    • 2

    • Area:

      1000-1199 Sq Ft

    $499,000

    109 Regent St

    MLS®#:X4923271
    Status:For Sale 
    Type:Residential
    City:London
    • 4+0

    • 3

    Enjoy Nature At It's Best In London's Old North! Bright, Spacious Bungalow With Large Windows For Natural Light. Charming, Cottage-Style Home, Recently Professionally Renovated To Restore Several Features To Their Original Style. Perfect Family Home With Walk In/Walk Out, Finished Basement, Owner Occupied And Well Maintained. Surrounded By Matured ....More details

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    • 4+0

    • 3

    6,420 Listings Found
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