First-Time Home Buyers
The "Mortgage 101" Gap Most banks will tell you how much you can borrow, but they won't tell you how much you should spend. In a competitive market like Toronto, being "pre-approved" is just the baseline. At Mihir Patel Mortgages, we provide a closing-cost strategy that ensures you aren't surprised by Land Transfer Taxes or hidden fees on closing day.
We help you maximize the government programs specifically designed to get you into the market sooner:
The First-Time Buyer Advantage
1
The FHSA Strategy
Learn how to use the First Home Savings Account to save for your down payment tax-free and reduce your taxable income.
2
RRSP Home Buyers' Plan
We’ll show you how to withdraw up to $60,000 from your RRSPs tax-free for your down payment.
2
Land Transfer Tax Rebates:
First-time buyers in Toronto are eligible for significant rebates on both Provincial and Municipal land transfer taxes—we calculate these for you upfront.