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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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    3,071 Listings Found
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    MLS®#:X5408283
    Status:For Sale 
    Type:Residential
    Community:Crown Point - Hamilton
    • 3+0

    • 2

    • Area:

      1100-1500 Sq Ft

    Gage Park Family Friendly Neighbourhood.This 3 Bedroom Highly Renovated Home Has Everything You Need, Move In For Thanksgiving. The Main Floor Is Prefect For Entertaining Or Quiet Time At Home. A Spacious Living Room & Eat-In New Kitchen, Check Out The New High Quality Appliances And Please See If You Can Discover The Main Floor Laundry Location. T....More details

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    • 3+0

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:N5406121
    Status:For Sale 
    Type:Condominium
    Community:Royal Orchard - Markham
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Welcome To Thornhill Orchards And This Spacious 3 Bedroom, 2 Bathroom Condominium With Southwest Exposure. Two Recently Updated Balconies Give This Corner Unit Plenty Of Gorgeous Views. The Bright Living Room, Dining Room Offer Plenty Of Space To Relax And Entertain.3 Spacious Bedrooms, 3 Piece Bathroom With Stand Up Shower, 2 Pc Ensuite Off Of The....More details

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    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    $499,900

    104 Charles St

    MLS®#:X5406851
    Status:For Sale 
    Type:Residential
    Community:Rural Grey Highlands - Grey Highlands
    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    Welcome Home To Maxwell. Enjoy The Quiet Life On This Peaceful Street. Whether You're Downsizing, Looking For The Perfect Starter Home Or Maybe A Weekend Get Away.Kitchen Opens To Living Room. Large Deck For Entertaining, Stone Firepit For Those Cool Fall Nights Or Starry Summer Evenings.Yard Boasts Plenty Of Mature Trees.Spacious Shop Located At R....More details

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    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    $459,000

    81 Seventh St

    MLS®#:N5406282
    Status:For Sale 
    Type:Residential
    Community:Beaverton - Brock
    • 2+0

    • 1

    Located In Beaverton's Sought-After Lakeside Community Of Ethel Park. Amazing Location! All Municipal Services. Don't Miss This Opportunity To Live Right Beside The Lake. 2 Bedroom Open Concept Bungalow Can Be Your Place To Call Home. Large Entertainers Back Yard. Perfect For The Outdoors/Watersports/Ice Fishing Enthusiast. Walk To Lake Simcoe, Par....More details

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    • 2+0

    • 1

    MLS®#:N5406933
    Status:For Sale 
    Type:Condominium
    Community:Unionville - Markham
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Welcome To 30 Clegg! Welcome Home! This Beautiful Condominium Apartment Is In One Of Markham's Most Coveted Postal Codes! Property Features A 1 Bedroom + Den And 1 Washroom! This Complex Is Central To Dining, Groceries, Shopping, First Markham Place, Town Centre, Cineplex And Flato Theatre, Local Transit Viva, Yrt, Go Station, And Much More! Don't ....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:C5408043
    Status:For Sale 
    Type:Condominium
    Community:Willowdale East - Toronto
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    Welcome To 528 @ 3 Everson Dr - Largest One-Bedroom Townhome Located At Yonge & Sheppard In The Centre Of North York! This Spacious & Airy Home Features Just Under 800 Sq.Ft. Of Recently Renovated Living Space, Including Newly Reno'd Kitchen W/ New Quartz C/T, Sink & Faucet (2021); Laminate Flrs T/O Including Stair Treads, Re-Stained Stair Railing....More details

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    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    MLS®#:W5404417
    Status:For Sale 
    Type:Condominium
    Community:Yorkdale-Glen Park - Toronto
    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    Welcome To Luxurious Treviso Iii, With Lots Of Amenities On The Property To Enjoy And Retail Stores Downstairs For Your Convenience. Lovely Open Concept One Bedroom Unit With Parking & Locker Included! Walking Distance To Public Transit (Ttc/Subway). Malls(Yorkdale, Lawrence Allen Centre), Shops (Costco, Home Depot) And Restaurants Within 5-Minute ....More details

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    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    MLS®#:W5404997
    Status:Sale Pending 
    Type:Condominium
    Community:Hurontario - Mississauga
    • 2+0

    • 1

    • Area:

      800-899 Sq Ft

    Open Concept And Sun-Filled Home. Large Living Area With Access To A Covered Balcony. Quiet And Serene Neighbourhood. Short Distance To Square One And Close To All Amenities. Walking Distance To Schools And Community Centre.

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    • 2+0

    • 1

    • Area:

      800-899 Sq Ft

    MLS®#:C5383256
    Status:Sale Pending 
    Type:Condominium
    Community:Bay Street Corridor - Toronto
    • 2+0

    • 1

    • Area:

      600-699 Sq Ft

    Yorkville: Bay And Bloor! Elegant, Luxurious, Much Sought-After Boutique Building. Two Bright Bedrooms Separated By Washroom. 9 Ft Ceilings, Roof Top Garden. Next Door To Manulife Center, Steps To Subway, U Of T, Rabba, Indigo Etc. Short Walk To Yorkville Village, Ryerson University, And Financial District: Enjoy The Best Of To Toronto!

    View Details
    • 2+0

    • 1

    • Area:

      600-699 Sq Ft

    $449,999

    983 Lawrence Rd

    MLS®#:X5388427
    Status:For Sale 
    Type:Residential
    City:Windsor
    • 3+0

    • 1

    Charm & Character Best Describes This Home. Buy This To Live In Or As An Investment In The Heart Of East Riverside. While, It Is Steps Away From Many Restaurants, Convenience Stores, Pharmacies, Detroit River, Parks And Best Schools- It's Also In A Quiet Tree-Lined Neighborhood With A Gorgeous Porch To Say Hello To Your Neighbours, High Ceiling, Am....More details

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    • 3+0

    • 1

    MLS®#:C5411632
    Status:For Sale 
    Type:Condominium
    Community:Bayview Village - Toronto
    • 1

    • Area:

      500-599 Sq Ft

    Unit Like New Occupied For A Few Months Only. Contemporary Open Concept Studio In Bayview Village Community. Fantastic Layout, Sweet & Cozy Home Sun-Filled W/East View, 9 Ft Ceiling W/ Floor To Ceiling Windows W/State-Of-The-Art Design, Walking Dist. To Subway, Go Train, Ny General Hospital, Canadian Tire, Ikea, Woodsy Park. 2 Min. Drive To 401 & 4....More details

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    • 1

    • Area:

      500-599 Sq Ft

    $399,900

    1143 Armour Rd

    MLS®#:X5409005
    Status:For Sale 
    Type:Residential
    Community:Ashburnham - Peterborough
    • 2+0

    • 1

    Attention First-Time Buyers And Investors! Great Location! Just A Few Minutes To Trent University. This 2 Bedroom, 1 Bath, 1.5 Storey Home Sits On A Large City Lot Backing Onto The Rotary Greenway Trail. It Features A Single Car Detached, Fenced-In Yard With A Beautiful In-Ground Pool And Metal Roof (2006). Inside The Home Has Had Some Recent Updat....More details

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    • 2+0

    • 1

    MLS®#:C5388353
    Status:For Sale 
    Type:Condominium
    Community:Don Valley Village - Toronto
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    1 Bdrm Very Spacious Penthouses Unit Walking Distance To All Amenities. Renovated Through Out The Suit. New Laminate Floor On Bdrm, Lvgrm. New Painting Done. Renovated Washroom. Renovated Kitchen Including New Cabinet, Vinyl Floor, Ceramic Backsplash, & Brand New Stove, Brand New Fridge And 6Month Old Dishwasher. All Walk In Closet Door Replaced. N....More details

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    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:X5394409
    Status:For Sale 
    Type:Residential
    Community:Gibson - Hamilton
    • 3+0

    • 1

    • Area:

      1100-1500 Sq Ft

    Attention First Time Buyers & Investors! Beautiful Two Story Home Professionally Renovated Top To Bottom In A New And Upcoming Neighborhood. This Spacious 3 Bedroom Home Is Full Of Updates. Everything New, Kitchen, Appliances, Bathroom, Vinyl Flooring, Staircase, Windows, Shingles, Vinyl Siding, Eaves & Facia, Air Condition, Furnace, Control Panel ....More details

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    • 3+0

    • 1

    • Area:

      1100-1500 Sq Ft

    $259,000

    0 Whitney Rd

    MLS®#:X5355690
    Status:For Sale 
    Type:Residential
    City:Perry

    2.98 Acres Building Lot. Mainly Level Treed Lot With Partly Cleared Area For Building A Year Round Home Or Recreational Getaway. Located On A Quiet Year-Round Road With Access To Hydro And Telephone At Road. Contains Environmental Protected Area Along Small Portion At Back Lot Line. North Of Huntsville, Close To The Community Of Novar. Minutes To L....More details

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    $239,000

    0 County 504 Rd

    MLS®#:X5384208
    Status:For Sale 
    Type:Residential
    Community:Rural North Kawartha - North Kawartha

    11.75 Acres Of Waterfront Property On Lower Apsley Lake! Imagine The Possibilities! Road Frontage Directly On County 504, Year Round Municipal Road, Minutes To Apsley. Hydro At The Lot Line. Water Frontage Of 560 Feet. Shoreline Is Not Owned, Easy Access To Hwy 28 For Travel. Property Is Zoned For Residential Use. Buyer's To Complete Their D....More details

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    $599,900

    532 Montrave Ave

    MLS®#:E5406134
    Status:Sale Pending 
    Type:Residential
    Community:Vanier - Oshawa
    • 3+0

    • 2

    Great Opportunity! Investors, Flippers, Handymen, And Anyone Looking To Improve Their Equity With Some Elbow Grease! High Basement With Separate Entrance And Existing Kitchen And Bath. Main Level With Hardwood Throughout Most Rooms, 1 Car Garage And Plenty Of Parking. Solid Home With Loads Of Potential, Comfortable Family Home. Fresh Paint Thro....More details

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    • 3+0

    • 2

    MLS®#:S5368913
    Status:Sale Pending 
    Type:Residential
    Community:Rural Tiny - Tiny

    Have You Been Dreaming Of Building Your Dream Home On Acreage? This 11 Acre Lot Is Nestled Just On The Outskirts Of Penetanguishene. The Zoning Has So Many Intended Uses, So You Won't Be Disappointed. Always Wanted A Hobby Farm? Now You Can. Always Wanted To Build An Equestrian Riding Facility? Now You Can. Or Are You Just Looking For That Perfect ....More details

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    $299,900

    120 Pillsbury Dr

    MLS®#:S5390047
    Status:Sale Pending 
    Type:Residential
    Community:Midland - Midland

    Prime Industrial Property Spanning Nearly 1.65 Acres On Pillsbury Drive In Midland. With 350Ft Of Frontage And M1 Zoning, This Is The Ideal Property For Your Next Business Opportunity. Commutable Distance For Your Employees And Easy Access To Hwy 12, Hwy 93 And Hwy 400 For Ideal Shipping Routes. Don\'t Delay, This Area Is Rarely Offered.

    View Details
    MLS®#:N5402434
    Status:For Sale 
    Type:Condominium
    Community:Crestwood-Springfarm-Yorkhill - Vaughan
    • 2+1

    • 2

    • Area:

      1200-1399 Sq Ft

    Must See- Rarely Available "Like Bungalow Townhouse" Unique Corner Unit With W/O To Fully Fenced Private Backyard (Bbq Allowed & Pet Friendly /Restrict). Located In A Low Rise Boutique Bldg - Future Subway Stop, Just Steps To Shops, Restaurants, Banks, Schools, Parks, Transit. Spacious 1,300 Sq Ft Fully Renovated Top To Bottom (Aug 2020) With Luxur....More details

    View Details
    • 2+1

    • 2

    • Area:

      1200-1399 Sq Ft

    3,071 Listings Found
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