Buying a home is a significant goal for many Ontarians; but the path to homeownership presents many financial hurdles. Saving a sufficient down payment is tough enough on its own and when coupled with rising interest rates and tough qualification rules – which includes a mortgage stress test– affording a home becomes very difficult for some.

Luckily, there are plenty of grants available to help you out – especially if you’re a first-time homebuyer in Ontario.

There are three types of grants available to Ontarians: Those offered by the federal government, those offered by the provincial government, and those offered at the municipal level.

This is just a place to start; a cheat sheet, if you will. Do yourself a favour and make a list of all the programs you may qualify for and do some further research – it could save you thousands on your first home purchase.

So, without further ado, we present 20 grants for first-time buyers in Ontario.

Federal grant programs

CMHC green home

CMHC is a Canadian crown corporation and is the largest issuer of mortgage default insurance. Canadians who build or renovate their homes for energy efficiency using CMHC-insured financing can receive up to a 25% rebate on their insurance premium.

First-time homebuyer’s tax credit

This credit allows homebuyers to claim up to $5,000 on the purchase of their home on their personal tax year for the year of purchase. This allows Ontarians to save up to $750 on their taxes for that year.

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