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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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    Our Listings Under $600,000

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    2,575 Listings Found
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    $579,900

    40 Erie St

    MLS®#:S5126724
    Status:For Sale 
    Type:Residential
    Community:Collingwood - Collingwood
    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    Cute-As-A-Button Is The Best Way To Describe This Adorable Home! Fully Renovated Interior & Exterior. New Grey Siding & Black Windows Ensure The Curb Appeal Is A 10+. Modern Designer Finishes. Vinyl Plank Flooring, Designer White Kitchen & Fully Renovated Bath. Hot Water On Demand And A New Mitsubishi Fh-12 Hyper Heat Pump Making This Home Extremel....More details

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    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    $549,900

    89 Robin Crt

    MLS®#:S5132529
    Status:For Sale 
    Type:Residential
    Community:400 North - Barrie
    • 2+2

    • 2

    Recently Updated 2Storey Duplex Is Located In The Convenient North End Of Barrie! With Parks, Schools, Commuter Routes, & Much More All Within A Five Minute Drive, This Is An Ideal Property That Won't Last Long. Tons Of Natural Light Brightens The Home & There Are Great Size Rooms In Each Unit. A Fully Fenced In Rear Yard & Deck Is Perfect For Ente....More details

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    • 2+2

    • 2

    $599,900

    206 Hahn Ave

    MLS®#:X5125219
    Status:For Sale 
    Type:Residential
    City:Cambridge
    • 3+2

    • 2

    Welcome To 206 Hahn Ave, Cambridge. This Beautiful Move-In Ready Bungalow, With Attached Garage, Has 3 Bedrooms And 1 Bath On The Main Floor And Has 2 Bedroom + Den And 1 Bath Legal In-Law Suite Which Offers Both Charm And Practicality.This Home Is Situated On A Quiet Street In A Lovely Hespeler Neighbourhood. The Main Floor Offers A Large Bright L....More details

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    • 3+2

    • 2

    $579,900

    44 Bawcutt Cres

    MLS®#:X5132412
    Status:For Sale 
    Type:Residential
    Community:Paris - Brant
    • 3+0

    • 3

    • Area:

      1100-1500 Sq Ft

    Freehold Townhouse In Paris 3 Bedrooms 3 Bathrooms, No Fees Built In 2019. 9.5"Main Floor Ceilings, Upgraded Kitchen Island And Breakfast Bar, Glass Sliding Doors To The Backyard Which Includes A Privacy Fence. Features Include, Vinyl Plank Flooring On Main Floor, Bathrooms And Stairs. Upgraded En-Suite Bathroom And Walk In Closet Plus 3 Piece Ro....More details

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    • 3+0

    • 3

    • Area:

      1100-1500 Sq Ft

    MLS®#:E5131184
    Status:Sale Pending 
    Type:Condominium
    Community:Woburn - Toronto
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    Must See! South-East Unobstructed View Of Lake & Park! & Scarb Bluffs! Spacious Split Layout 2 Bedroom W/ 2 Washroom (Renovated!), Open Concept Kitchen W/ Granite Countertops And Breakfast Bar, Upgraded Appliances, Countless Amenities W/ 24Hr Concierge, Indoor Heated Pool, Sauna, Gym, Guest Suites, Library, Party Room & More! Close To 401, 404, Ttc....More details

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    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    MLS®#:S5109700
    Status:Sale Pending 
    Type:Condominium
    Community:Lakeshore - Barrie
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    Desirable Split Layout Boasts 2 Bed/2 Baths With Soaring 9Ft Ceilings. Surrounded In Windows, Every Room Is Saturated In Natural Light. This Suite Has Been Beautifully Updated With An Oversized Trim/Door/Casing Package, Crown Moulding And Laminate Flooring. The Kitchen Has Been Finished In Modern Neutral Tones W/Quartz Countertops, Backsplash, An U....More details

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    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    MLS®#:X5134196
    Status:For Sale 
    Type:Residential
    Community:Rural Southgate - Southgate
    • 3

    • 2

    • Area:

      1100-1500 Sq Ft

    Have A Look At This Little Gem. This Warm, Well Kept Home Is Perfect For First Time Buyers Looking To Enjoy Country Living In The Community Of Hopeville, West Of Dundalk. Three Bedrooms With Closets, Two Bathrooms And A Detached Garage. The Home Features Luxurious Heated Floors Throughout, The Water Softener And Eaves Trough Are New In 2020. Everg....More details

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    • 3

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:C5108766
    Status:For Sale 
    Type:Condominium
    Community:Little Portugal - Toronto
    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    First Time Buyers This Is A Great Opportunity To Get Into The Market! Welcome To Queen West Curve Condo's. Picture Perfect Penthouse Loft With Exposed Ductwork, Concrete Ceiling, Dark Immaculate Laminate Flooring, Stainless Appliances, Balcony, Floor-To-Ceiling Windows, Ceramic Kitchen Backsplash, Stone Kitchen Counter, Movable Kitchen Island With ....More details

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    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    MLS®#:S5121088
    Status:Sale Pending 
    Type:Condominium
    Community:City Centre - Barrie
    • 2+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Awesome Updated 2 Bedroom, 2 Bath And 2 Parking Spots Condo In Downtown Core. Could Be The Only Updated Kitchen In Either Building That Looks Like This. Open Concept. Loads Of Glass With Great Views Of The Water And Downtown. Quartz Counter Tops, Seating At Island, B/I Microwave. Views Of Lake Or Of City Hall. Facilities Include Indoor Pool, Hot Tu....More details

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    • 2+0

    • 2

    • Area:

      1000-1199 Sq Ft

    $599,000

    2 Lakeview Dr

    MLS®#:E5131692
    Status:For Sale 
    Type:Residential
    Community:Port Perry - Scugog
    • 3+0

    • 2

    • Area:

      1100-1500 Sq Ft

    Charming 3 Bdrm Home Situated On A Large Corner Lot. Just Minutes To Historic Downtown Port Perry. Kitchen Features S/S Appliances (Gas Stove). W/0 From Dining Room To Raised Deck W Natural Gas Grill And Retractable Awning. Updated 4 Pc Bath Boasts Heated Floor. Bsmt Rec Room Features Gas Fireplace. Fully Fenced B/Y W 2 Sheds. The Partially Finishe....More details

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    • 3+0

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:W5116341
    Status:For Sale 
    Type:Condominium
    Community:Mimico - Toronto
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    Beautiful Cove At Waterways Condos! Welcome To This 1 Bdrm Condo In The Heart Of High Demand Mimico Area With Spectacular View Overlooking Water & City Skyline! Unit Features Stylish Finishes W/ S/S Appliances. Parking & Locker. Steps To Humber Bay Shores, Close To Sunnyside Beach, Hiking\\biking Trails, Shopping, Restaurants & High Park. Easy Acce....More details

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    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    MLS®#:X5109929
    Status:Sale Pending 
    Type:Condominium
    City:Waterloo
    • 1+1

    • 1

    • Area:

      500-599 Sq Ft

    Icon 330 South Tower, 1+1 Bedrooms Unit With Parking And Locker. Steps To University Of Waterloo And Laurier.Laminate Flooring, Amazing Amenities. Granite Countertops, Kitchen With Stainless Appliances. Fridge, Stove, Dishwasher, Microwave.

    View Details
    • 1+1

    • 1

    • Area:

      500-599 Sq Ft

    $250,000

    1422 Maple Way

    MLS®#:N5121614
    Status:Sale Pending 
    Type:Residential
    Community:Rural Innisfil - Innisfil

    Great Opportunity To Build Your Dream House Or Cottage, Zoned Residential R1, Friendly Growing Community, Innisfil Go Station Planned, Live By The Lake Go Train To Toronto, , Walking Distance To Public Boat Launch In Lake Simcoe, Private Quiet Street, Prime Location Just Steps To Lake Simcoe, Close To All Amenities, Mature Trees

    View Details
    MLS®#:W5132881
    Status:For Sale 
    Type:Condominium
    Community:Mississauga Valleys - Mississauga
    • 2+1

    • 2

    • Area:

      1000-1199 Sq Ft

    Location! Location! Location! Minutes To Hwy 403! Bright Large-Windowed Corner Unit, Near Square One/Celebration Square, Near Numerous Amenities, Steps To Mississauga City Centre Transit Terminal (Go, Miway, Brampton Transit) And Home To Future Lrt. Experience The Luxury Of Living In The Core Of Mississauga. Newly Renovated Kitchen And Washrooms. D....More details

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    • 2+1

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:W5107008
    Status:For Sale 
    Type:Condominium
    Community:Brant - Burlington
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    Lake Views.! 415 Locust Street In The Heart Of Downtown Burlington. The Harbourview Residences Offers An Open Terrace With Breathtaking Views Of Lake Ontario, Spencer Smith Park, The Sky Way Bridge And The Niagara Escarpment. It Also Features A Planned 15000 Sqft. Roof Top Garden Area To Enjoy. This Large 1 Bedroom Suite Breathes Sunlight Through I....More details

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    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    MLS®#:X5127157
    Status:For Sale 
    Type:Condominium
    Community:Port Hope - Port Hope
    • 3+0

    • 2

    • Area:

      1200-1399 Sq Ft

    Likely Less Than Rent For First-Time Buyers! Condo Townhome Close To Schools, Park, Transit, And Walk To Downtown Or Beach. 3 Bedroom, 2 Bath, With Basement Family Room And Laundry Room. Move In Ready, But A Little Tlc Could Really Make The Place Shine. Fenced Backyard, Exclusive Parking Spot. Could Be A Turn-Key Investment For Landlords. No Drivew....More details

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    • 3+0

    • 2

    • Area:

      1200-1399 Sq Ft

    MLS®#:X5120823
    Status:Sale Pending 
    Type:Residential
    Community:Rural Alnwick/Haldimand - Alnwick/Haldimand
    • 5+0

    • 2

    • Area:

      2500-3000 Sq Ft

    Escape To The Country And Enjoy This 5 Bedroom, 2 Bathroom, 3 Level Side Split Country Bungalow. This Home Is Heated With A Wood Pellet Stove And Baseboard Heat. Roof Replaced 2020, Fresh Paint In Both Family Rooms And Kitchen 2021. Bamboo/Carpet/Vinyl Flooring Throughout. There Is Definitely No Lack Of Space Within This Home Allowing Lots Of Room ....More details

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    • 5+0

    • 2

    • Area:

      2500-3000 Sq Ft

    $499,900

    1239 Michael St

    MLS®#:X5128717
    Status:For Sale 
    Type:Residential
    City:London
    • 4+0

    • 2

    Fully Upgraded 4 Bdrm, 2 Bath Bungalow!! Located In A Mature Quiet Neighbourhood. Attached Garage, Fully Fenced Backyard With A Workshop For Those Much-Needed Gardening Tools. The Main Floor Enjoys An Open Concept Living Area, Dining Room, And Kitchen Which Is Great For Entertaining. Stainless Steel Appliances, New Flooring, New Windows, Doors And ....More details

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    • 4+0

    • 2

    MLS®#:W5126035
    Status:For Sale 
    Type:Condominium
    Community:Orangeville - Orangeville
    • 2+0

    • 1

    • Area:

      900-999 Sq Ft

    Great Opportunity For First Time Buyers Or Investors! A Must See, Bright And Spacious, Newly Renovated 2 Bedroom Condo Within Walking Distance To Go Bus And Downtown Orangeville. This Move In Ready Unit With Balcony Access Comes With Laminate Floors Throughout, Large Windows And Double Closets In Bedrooms, Double Sink And Stainless Steel Appliances....More details

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    • 2+0

    • 1

    • Area:

      900-999 Sq Ft

    MLS®#:W5132222
    Status:For Sale 
    Type:Condominium
    Community:Appleby - Burlington
    • 1+1

    • 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

    View Details
    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    2,575 Listings Found
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