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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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    3,619 Listings Found
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    $599,900

    1191 Simcoe St S

    MLS®#:E5224095
    Status:For Sale 
    Type:Residential
    Community:Lakeview - Oshawa
    • 3+0

    • 2

    • Area:

      2000-2500 Sq Ft

    Great Property With Tremendous Potential! Legal Duplex, Paying $2200/Month (2Br +1W Unit Pays $1200 And 1Br+1W Unit Pays $1000) And Has The Potential Of Gaining More With New Tenants. Each Bedroom With Huge Closet Space And Walk-In Closets. Huge Backyard! Rent One Unit, Stay In One For Almost Free! Very Close To Public Transport, Go Station, School....More details

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    • 3+0

    • 2

    • Area:

      2000-2500 Sq Ft

    MLS®#:E5220216
    Status:For Sale 
    Type:Condominium
    Community:Agincourt South-Malvern West - Toronto
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    Luxury Tridel Condo With Open Concept Layout Situated At One Of The Most Demanded Areas In Toronto. Resort-Style Recreational Facilities Includes 24Hrs Concierge, Fitness Room, Billiards Room, Luxury Party Room, Movie Theater, Roof Top Deck Etc. Laminated Floors Thru-Out, Public Transit At Door Step., Hwy 401, Shopping Centres, Restaurants, Library....More details

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    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    $599,900

    21 Galley Ave

    MLS®#:S5225819
    Status:For Sale 
    Type:Residential
    Community:Orillia - Orillia
    • 2+1

    • 2

    • Area:

      1100-1500 Sq Ft

    Incredible Charming 1.5 Story Home Sitting On A Massive Lot With In-Ground Pool + Close To The Lake, Parks And Walking Trails. Vacation At Home All Summer Long With This Stunning Property. Inside Features Updated Chef's Kitchen With Granite Counters, Ss Appliances, And Bright Living, Dining, And Office Area That Could Be Additional Bedroom Space. 2....More details

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    • 2+1

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:W5227702
    Status:For Sale 
    Type:Condominium
    Community:Islington-City Centre West - Toronto
    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    Sit On Your Balcony And Enjoy Unobstructed South Views Of Lake Ontario & Downtown Skyline From The 16th Floor. Upgraded Granite Counters With Under-Mount Sink And Breakfast Bar. Hardwood Floors Throughout This Beautiful 650 Sq Ft, Open Concept 1 Bedroom Plus Den Unit. Washer And Dryer In-Suite. The Bedroom Has Built-In Storage, Parking And Locker I....More details

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    • 1+1

    • 1

    • Area:

      600-699 Sq Ft

    MLS®#:W5209803
    Status:Sale Pending 
    Type:Condominium
    Community:LaSalle - Burlington
    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    Bright, Spacious, & Brand New 1Bed + Den Condo Just Steps Away From Aldershot Go Station (Under 1 Hr To Downtown To). Be The First To Live In This Upgraded Unit, Includes Stainless Steel Appliances, Pot Lights Throughout, & Sleek Shower Doors. Trendy Boutique Style Midrise Condo, Beautiful High Ceiling Lobby, Amenities Include Top Notch Fitness Cen....More details

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    • 1+1

    • 1

    • Area:

      700-799 Sq Ft

    MLS®#:C5199631
    Status:For Sale 
    Type:Condominium
    Community:Mount Pleasant West - Toronto
    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    Extra Luxury 101 Erskine By Tridel! This 1 Bed + Study Nook Possesses A Functional Layout & Boasts A Designer Kitchen W/Integrated Appliances, Quartz Counters & Backsplash, Gleaming Laminate Flooring Throughout, Mirrored Closets, And A Spacious Balcony W/Unobstructed Sw Views. Incredible Amenities: Roof Garden W/Infinity Pool, Gym, Yoga Studio, Mov....More details

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    • 1+0

    • 1

    • Area:

      0-499 Sq Ft

    MLS®#:C5207027
    Status:For Sale 
    Type:Condominium
    Community:Don Valley Village - Toronto
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Hard To Find 3 Bedroom Condo!! Unobstructed South View Which Provides Amazing Views Of Cn Tower!!! Best Value In Gta Tridel Built Spacious 3 Br/1.5 Baths At Demand Don Mills/Finch Mature Neighbourhood/Acres Of Greenland/Excellent Security/Concierge Services/Open Balcony/Unobstructed Sunny Exposure/Outdoor Pool/Tennis Court And Children Playground/E....More details

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    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:X5193058
    Status:For Sale 
    Type:Condominium
    City:Waterloo
    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    Top Floor! 1 Parking Spot Included! New High-Rise Condo Building With A Great South Ultimate View. Bright One Bedroom Plus Solarium (Already Changed To 2nd Bedroom ). Walking Distance To Uw, Wlu And Uptown Waterloo. Bus Stops Right Outside Of The Building. Modern Finishes With 9 Ft. High Ceilings, High Quality Laminate, Tile And Open Concept Modern....More details

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    • 2+0

    • 2

    • Area:

      800-899 Sq Ft

    $599,900

    158 Peel St

    MLS®#:S5162622
    Status:For Sale 
    Type:Residential
    Community:Wellington - Barrie
    • 3+2

    • 3

    • Area:

      1100-1500 Sq Ft

    Legal Duplex. Great Opportunity To Get Into The Market And Have Someone Help Pay The Mortgage! Both Units Updated Recently. Fully Finished Basement, With Two More Bedrooms.

    View Details
    • 3+2

    • 3

    • Area:

      1100-1500 Sq Ft

    MLS®#:X5224356
    Status:For Sale 
    Type:Condominium
    Community:Kortright Hills - Guelph
    • 3+1

    • 3

    • Area:

      1800-1999 Sq Ft

    Backing On To Green Space, This Desirable 4 Bedroom, 3 Bathroom Condo Townhouse With Walkout & Low Monthly Fees Is Just 2 Km From The University Of Guelph And On A Direct Bus Route To The University During Those Cold Months. Easy Access To Amenities, 401 & For The Commuters. Hands Down This Is One Of The Nicest Student Rentals You Will Find. With T....More details

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    • 3+1

    • 3

    • Area:

      1800-1999 Sq Ft

    $549,900

    70-72 Park St S

    MLS®#:X5215323
    Status:For Sale 
    Type:Residential
    Community:Monaghan - Peterborough
    • 6+0

    • 2

    • Area:

      2000-2500 Sq Ft

    Great Investment Opportunity, Centrally Located In Peterborough, Side By Side Being Sold Together. Each Unit Has 3 Bedrooms, 1 Bath, 1 Kitchen, Main Floor Living Rm & Dining Rm & A Basement For Storage. Each Unit Has Its Own Natural Gas Furnace, Hot Water Tank, Electrical Panel & Separate Meters For Both, Tenants Pay Their Own Natural Gas & Electri....More details

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    • 6+0

    • 2

    • Area:

      2000-2500 Sq Ft

    MLS®#:X5217321
    Status:For Sale 
    Type:Residential
    City:Waterloo
    • 3+2

    • 3

    • Area:

      1100-1500 Sq Ft

    Well Kept 3+2 Bedroom, 2+1 Wr, 2 Storey Semi-Detached In Lakeshore. Recently Updated Floor On Main Level, Pot Lights, Freshly Painted House, Ss Kitchen Appliances, Brand New Ge Washer & Dryer, Window Coverings. Spacious Kitchen , Bright Living Room And Dining Room Are Ideal For Entertaining. Lower Level Has 2 Bedroom, 3Pc New Bath And Separate Sid....More details

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    • 3+2

    • 3

    • Area:

      1100-1500 Sq Ft

    MLS®#:X5217654
    Status:Sale Pending 
    Type:Residential
    Community:Rural Wellington North - Wellington North
    • 2+0

    • 2

    • Area:

      1100-1500 Sq Ft

    Affordable Living At The Land Lease Park Located At Conestoga Estates. This Home Is 1300 Square Feet, Has An Open Concept Floor Plan, 2 Beds, 2 Baths. Driveway For 3 Cars, And A Good Sized Covered Porch. Large Foyer Area That Looks Onto The Living Room/Kitchen/Dining Area. Very Spacious Kitchen With A Large (Moveable) Island, Large Master Bedroom W....More details

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    • 2+0

    • 2

    • Area:

      1100-1500 Sq Ft

    MLS®#:X5182054
    Status:For Sale 
    Type:Condominium
    Community:Waverley - Guelph
    • 2+0

    • 1

    • Area:

      1000-1199 Sq Ft

    Looking For Condo Living And Value? Then Look No Further. This Bright & Spacious 2 Bedroom Condo Boasts An Updated Kitchen W/ Corian Counters, New Windows And Balcony Will Soon Be Completed. Ensuite Laundry & Storage For Convenience. Walking Distance To Shopping, Trails, River, Public Transit & Parks. Offered Amenities; Party Room, Tennis, Inground....More details

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    • 2+0

    • 1

    • Area:

      1000-1199 Sq Ft

    MLS®#:N5197361
    Status:For Sale 
    Type:Condominium
    Community:Doncrest - Richmond Hill
    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    Welcome To The Royal Gardens 2, Located In The Heart Of Richmond Hill! Conveniently Located Steps From Transit/Viva And Minutes From The 404,407, And Go. Surrounded By A Plethora Of Retail And Restaurant Businesses All At A Walking Distance! Newly Built Park Right In Front Of The Building, Seen With A Clear Unobstructed View From Your Cozy Balcony.....More details

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    • 1+0

    • 1

    • Area:

      500-599 Sq Ft

    MLS®#:W5211258
    Status:For Sale 
    Type:Condominium
    Community:Cooksville - Mississauga
    • 2+1

    • 2

    • Area:

      1000-1199 Sq Ft

    A Rarely Available Sun-Filled Corner Unit Featuring 2 Br + Den With An Exceptional Open Concept Layout Offering Stunning South-East Views Of The Lake And Toronto Skyline. One Of The Largest Units In The Building Offering Go Transit Next Door; Union Station 25 Mins Away, Close To Sq.1/Hospital/Schools/Grocery/Qew/403. New Flooring(2021), Upgraded Va....More details

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    • 2+1

    • 2

    • Area:

      1000-1199 Sq Ft

    $599,900

    45 Seaborn Rd

    MLS®#:W5226696
    Status:For Sale 
    Type:Residential
    Community:Madoc - Brampton
    • 3+0

    • 2

    Calling First Time Home Buyers And Investors, This Beautiful Bungalow Is Located In The Heart Of Brampton. Close To Many Amenities And Mins Away From The Highway. Home Features 3 Bedrooms, 2 Full Washrooms And A Large Finished Basement With Seperate Entrance! Fully Fenced Backyard With A Large Deck To Entertian And Enjoy Summer Days. Large Skylight....More details

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    • 3+0

    • 2

    MLS®#:W5220344
    Status:For Sale 
    Type:Condominium
    Community:Mount Olive-Silverstone-Jamestown - Toronto
    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    Beautifully Upgraded Spacious 3 Bdr 2 Bath Open Concept Living With A Walkout To Huge Balcony With Unobstructed View Of Cn Tower. New Custom Kitchen With Quartz Countertops And New Ss Appls. In-Suite Laundry -Brand New Washer&Dryer. New Vinyl Flooring,Baseboards And Crown Moulding. Open To Large Living Room. Lrg Master With 3Pc Ensuite And W/N Clos....More details

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    • 3+0

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:C5228865
    Status:For Sale 
    Type:Condominium
    Community:Willowdale West - Toronto
    • 2+2

    • 2

    • Area:

      1000-1199 Sq Ft

    Stunning Large 2 Bed + 2 Den In Luxury Royal Arms! Perfect For Families, Couples + Investors Who Want 1,149 Sq Ft To Work And Live. Feels Like A House With Updated Kitchen, Paint And Hardwood Throughout. 2 Dens W/ French Doors Can Be Both Used As Bedrooms. Also Includes 2 Parking + 1 Locker. Great Amenities Incl Indoor Pool, Guest Suites, Exercise....More details

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    • 2+2

    • 2

    • Area:

      1000-1199 Sq Ft

    MLS®#:C5222894
    Status:For Sale 
    Type:Condominium
    Community:Willowdale East - Toronto
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    Sun-Filled 2 Level Condo Townhouse (Rarely Offered Upper Unit Largest 1 Bed W. *Rooftop Terrace*) In The Heart Of North York. *Maintenance Fee All Inclusive* (Hydro, Water, Gas,Etc). Walking Distance To Ttc,Shops,Restaurants &2 Minutes To 401!This Spacious Unit Features Newer Engineering Hardwood Flooring On Main, Kitchen/Bathroom With Quartz Count....More details

    View Details
    • 1+0

    • 1

    • Area:

      700-799 Sq Ft

    3,619 Listings Found
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