How much do I need for a down payment in Ontario?
The minimum is 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million; homes at $1.5 million or more need at least 20%. If you put down less than 20%, mortgage default insurance is required. For example, the minimum down payment on a $500,000 home is $25,000. Rules can change, so confirm current minimums with your lender or the Government of Canada.
Do first-time buyers get a land transfer tax refund in Ontario?
Eligible first-time buyers can receive a provincial land transfer tax refund of up to $4,000, which covers the full tax on the first $368,000 of the price for qualifying homes. You must be at least 18, a Canadian citizen or permanent resident, have never owned an eligible home anywhere in the world, and live in the home as your principal residence. Your lawyer normally claims the refund at closing. Check ontario.ca for current rules.
What are the FHSA and the Home Buyers' Plan, and can I use both?
The First Home Savings Account (FHSA) lets you save up to $8,000 per year, to a lifetime limit of $40,000, with tax-deductible contributions and tax-free qualifying withdrawals for a first home. The RRSP Home Buyers' Plan lets you withdraw up to $60,000 from your RRSP and repay it over 15 years. You can use both for the same home if you meet each program's conditions. Confirm current rules at canada.ca.
Is the City of Kingston Home Ownership Program open?
As of October 25, 2026, the City of Kingston says applications for the 2026 Home Ownership Program are closed because available funding has been fully applied for. The program offers a forgivable down-payment loan to eligible renters and first-time buyers buying a home priced at $500,000 or less in Kingston or Frontenac County. Check the City of Kingston website for future intake dates and eligibility rules.
What are closing costs when buying a home in Kingston?
Closing costs usually include land transfer tax (before any first-time buyer refund), legal fees and disbursements, title insurance, a home inspection, and adjustments for items such as property taxes and utilities. Many buyers set aside roughly 1.5% to 4% of the purchase price as a rule of thumb. Your lawyer will provide exact figures before closing.
What is a buyer representation agreement?
It is a written agreement between you and a real estate brokerage that sets out what services the brokerage will provide, how long the agreement lasts and how the brokerage is paid. Read it carefully, ask questions and make sure you understand it before you sign. I'm happy to walk you through it.
Do I need a mortgage pre-approval before looking at homes?
It isn't a legal requirement, but it is strongly recommended. A pre-approval shows what a lender may be willing to lend, helps you set a realistic budget and lets you move quickly when you find the right home. It is not a guarantee of final mortgage approval.
Can I buy a home in Kingston if I live in another city?
Yes. Many buyers start with video calls and video tours, then visit for in-person showings. I can set up listing alerts, share comparable sales and help you plan a short house-hunting trip.
