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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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    $599,900

    23 Edgewater Dr

    MLS®#:X4635036
    Status:For Sale 
    Type:Residential
    Community:Rural Alnwick/Haldimand - Alnwick/Haldimand
    • 3+0

    • 3

    This Home Ticks All The Boxes. Large Eat-In Kitchen With W/O To Deck & Bbq Area. Main Floor Laundry. Formal Dining Room. Open Concept Living Room With Fabulous Sunset Views Of Rice Lake. 3 Season Sunroom, Master Bedroom With Ensuite,Bright Finished Rec Room With Propane Fireplace,Office,Cold Cellar,Plenty Of Storage, Workshop,Detached & Attached Ga....More details

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    $479,900

    22 Baxter Rd

    MLS®#:X4634395
    Status:For Sale 
    Type:Residential
    Community:Rural Alnwick/Haldimand - Alnwick/Haldimand

    96.5 Gently Rolling Acres Located In Northumberland County With Serene Views Of The Countryside. Enjoy Acreage With Complete Privacy And Solitude While Listening To The Rippling Stream.

    View Details
    MLS®#:W4635734
    Status:For Sale 
    Type:Condominium
    Community:City Centre - Mississauga
    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    Beautifully Renovated Condo In Great Condition. Well Managed And Low Maintenance Fees. 1 Bedroom Plus Den. Gorgeous South View Of The City From The Balcony. Ready To Move In. Walking Distance To Square One, Bus At Door, Near 403, Schools + Park

    View Details
    MLS®#:W4620747
    Status:For Sale 
    Type:Condominium
    Community:City Centre - Mississauga
    • 2+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Location! Location! Location! Bright Corner Unit In Well Maintained Luxury Monarchy Condos, 2 Bedrooms 2 Full Baths, Hardwood Flooring, Ensuite Laundry. Clear View To Celebration Sq. Close To City Hall , Living Art Center, Sq. One Mall, Central Library, Ymca & Sheridan College. Easy Access To Highway 401 & 403, Fabulous Rec. Facilities. 24 Hours Se....More details

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    $549,900

    321 Brewery Lane

    MLS®#:S4629822
    Status:For Sale 
    Type:Residential
    Community:Orillia - Orillia
    • 3+3

    • 2

    • Area:

      1100-1500 Sq Ft

    321 Brewery Lane Is Located On On Of The Nicest Streets In Orillia. Beautiful 3+3 Bdr Brick 4 Level Side Split C/W W/O To Inground Pool. R2 Zoning Allows Duplex, Layout Would Be Good For Student Rental Or Multi Generational Living.2 Yr. Old Inground Pool, Close To Lake Access, 8 Km. Walking Trail, Downtown, Moose Beach. This Home Is Ready For The N....More details

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    $459,900

    124 Ormond Dr

    MLS®#:E4629320
    Status:For Sale 
    Type:Residential
    Community:Samac - Oshawa
    • 4+0

    • 3

    All 1st Time Home Buyers/Investors & Anyone Looking For Home In Sought After North Oshawa Community, This Is Your Opportunity! Corner Lot Single Residential Family House, 2 Mins Drive To Uoit And Durham College, 5 Mins Drive To 407! Several Grocery Stores, Restaurants In The Area. Located Near Park, Catholic School, Cedar Valley Conservation Area. ....More details

    View Details
    MLS®#:X4619944
    Status:For Sale 
    Type:Condominium
    Community:Owen Sound - Owen Sound
    • 2+0

    • 2

    • Area:

      1200-1399 Sq Ft

    Location And Georgian Bay Views Summarize This Sought After Harbour House Condo. Open Concept Area Leads To A Private Balcony Which Allows For Your Own Bbq And Has Amazing Sunrise And Water Views. Spacious Master Bedroom With A Large Walk-In Closet And Ensuite With Double Sinks And Jacuzzi Tub. There Is Lots To Appreciate With Laundry In The Unit, ....More details

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    MLS®#:X4621497
    Status:Sale Pending 
    Type:Residential
    Community:Rural Georgian Bluffs - Georgian Bluffs
    • 1+2

    • 3

    • Area:

      3000-3500 Sq Ft

    Custom Designed Walk-Out Bungalow Located On A 2 Acre Country Lot. A Highlight Of The Home Is The Amazing Master Suite Which Features 2 Walk-In Closets, A Beautiful Ensuite Is Highlighted By A Steam Shower With Speakers And Colour Changing Lighting. Off The Suite Is A 4 Season Sunroom With A Propane Fireplace. Large Living Area Downstairs With 2 Be....More details

    View Details
    MLS®#:X4619416
    Status:For Sale 
    Type:Residential
    Community:Rural Meaford - Meaford
    • 3+0

    • 2

    Country Living Located Only Minutes To The East Side Amenities Of Owen Sound. There Is Lots Of Space For Vehicles And Toys With The Double Attached Garage, A Detached 19'X27' Insulated Workshop And A Large Asphalt Driveway. The Home Offers Plenty Of Natural Light From Large Principal Windows And Has Lots Of Entertaining Space Inside And Out. Two Se....More details

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    $339,900

    350 Norfolk St S

    MLS®#:X4603475
    Status:For Sale 
    Type:Residential
    Community:Simcoe - Norfolk
    • 3+0

    • 1

    • Area:

      1100-1500 Sq Ft

    This Charming 3 Bedroom Home Boasts Original Hardwood Floors, Wooden Staircase & Trim. A Beautiful Front Door Welcomes You To A Foyer Entrance Where You Will Are Invited Into The Cozy Living Room. The Adjacent Dining Room With Sliding Glass Doors Opens To A Back Deck. This Property Is A Nature Lover's Paradise With A Large Lot For Enjoying The Outd....More details

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    MLS®#:X4630730
    Status:For Sale 
    Type:Condominium
    City:Cambridge
    • 1+0

    • 1

    • Area:

      600-699 Sq Ft

    This Beautiful One Bedroom Condo Has A Great Balcony To Enjoy The View Of The Grand River And To Watch The Sunset. Take In All That Historic Galt Has To Offer With Downtown Shops And Restaurants, Community Spaces, Trails And Farmers Market. The Grand Has A Party Room, Well Equipped Gym, Security System And Guest Suite. This Unit Comes With A Storag....More details

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    $399,999

    328 Centre St

    MLS®#:X4619093
    Status:For Sale 
    Type:Residential
    Community:Shelburne - Shelburne
    • 3+2

    • 3

    This Beautiful Renovated Home Comes With 3+2 Bedrooms And 2 1/2 Bathrooms. The Large Kitchen Has Lots Of Storage With Built In Pantry And A Dinning Area For Entertaining Friends And Family. The Large Open-Concept Living Space Provides An Unobstructed View Of The Main Floor And Backyard. The Finished Basement Is Complete With A Rec. Room And Two Bed....More details

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    $429,900

    158 Shannon St

    MLS®#:S4612358
    Status:For Sale 
    Type:Residential
    Community:Orillia - Orillia
    • 3+0

    • 2

    Come And See This Beautiful Raised Bungalow Right In The Heart Of Orillia. Minutes From Downtown And Close To Highway 12, No Amenity Is Too Far. Inside, You\'ll Find A Spacious Living Space And Large Bedrooms Upstairs. Downstairs Boasts An Impressive Recreation Space With A Small Bar Area And 3 Piece Bathroom. Book A Showing Today!

    View Details
    $569,900

    5357 Sully Rd

    MLS®#:X4581139
    Status:For Sale 
    Type:Residential
    Community:Rural Hamilton - Hamilton Township
    • 4+2

    • 2

    • Area:

      1500-2000 Sq Ft

    Wonderful 4 Bedroom Detached Home Just South Of The Village Of Harwood And Rice Lake. Great Features Include 2 Separate Studio Apartments For Income Potential, Walkouts From Both Floors, Wood Stove, Detached 2 Door Garage With Newer Lean-To And 100 Amp Separate Service, Sauna On Lower Level, Large Sunroom With Vaulted Ceilings Including Slate Pool ....More details

    View Details
    MLS®#:X4581768
    Status:Sale Pending 
    Type:Residential
    Community:Grafton - Alnwick/Haldimand
    • 2+0

    • 1

    • Area:

      700-1100 Sq Ft

    A Real Charmer With A Touch Of Contemporary And Country Combined... Bling And Rustic...So Many Different Ways To Describe This Family Home. Gorgeously Updated 2 Bedroom, One Bath Bungalow In The Most Picturesque Setting With Your Own Private Stream Running Through The Rear Of The Property. This Home Has Been Lovingly Updated With So Many Items Fr....More details

    View Details
    $468,888

    6 Orchard Ave

    MLS®#:X4593956
    Status:For Sale 
    Type:Residential
    Community:Cobourg - Cobourg
    • 3+0

    • 2

    Original Owner Since 1957.This Home Has Great Bones And With A Little Modernization Could Be A Remarkable Show Piece. A 1962 Addition Added A Main Floor Family Room And A Master Bedroom With A 2 Pc Ensuite, That Could Be Made Into A Full 3 Piece .The Living Room Boasts Hardwood Floors, A Wood Burning Fireplace And A Beautiful Bay Window. The Oversi....More details

    View Details
    MLS®#:X4623903
    Status:For Sale 
    Type:Condominium
    City:Waterloo
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Three Bedroom End Unit Condo Townhouse With Attached Garage. Newly Renovated Unit - New Oak Wood Stairs And Laminate Floor With Well Tiled Standing Glass Shower. Great For First Time Home Buyers And Investors, Excellent Opportunity For A Good Cash Flow! Close To All Amenities. Close To Highway 85, Bluevale Collegiate, Park & Public Transit. Under 1....More details

    View Details
    $479,900

    8 Benson Dr

    MLS®#:X4575717
    Status:For Sale 
    Type:Residential
    City:St. Catharines
    • 3+0

    • 2

    • Area:

      1100-1500 Sq Ft

    Fantastic Opportunity To Own This Updated 3 Bd, 2 Bath Spacious Bungalow Nestled In Desirable St. Catharines. Move In Ready! Perfect For Young Families, Working Professionals Or Empty Nesters. Well Laid Out 1175+ Sq Ft Property With New Modern Kitchen W/ Breakfast Bar And Spacious Dining Rm. Living Rm Has Large Bay Window Overlooking Front Yard. Co....More details

    View Details
    MLS®#:E4630757
    Status:For Sale 
    Type:Condominium
    Community:Birchcliffe-Cliffside - Toronto
    • 2+0

    • 2

    • Area:

      700-799 Sq Ft

    Stunning,Bright South Facing Lake ,Bright South 2 Bed 2 Full Bathroom Plus Balcony! Lots Of Light! Large Bathroom Window Walk To The Lake Parking And Locker Included Exceptional Layout Very New Close To Lake

    View Details
    $419,900

    221 Millcreek Dr

    MLS®#:X4601086
    Status:For Sale 
    Type:Residential
    City:Sault Ste Marie
    • 3+0

    • 2

    Brand New Bungalow In Millcreek Subdivision, It Features An Open Concept Design, 9 Ft Ceilings, Bright Kitchen With Granite Counter Tops And Patio Doors To Deck. 3 Bedrooms Upstairs With The Master Having A Walk In Closet And An En-Suite. House Is Under Construction And Is Projected To Be Completed By The End Of January.

    View Details
    6,354 Listings Found
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