Buying your first home is a major milestone in your life, and it can seem overwhelming. There’s a lot to gain from learning about your mortgage options and working through government incentives. Fortunately for you, Canada offers some first time home buyer programs that will help make your entrance into the mortgage world easier and more affordable. If you’re new to the market, and especially in Alberta, you will gain a lot from having an experienced mortgage agent like Alejandra Díaz guide you along the way. Below, we present the best first time buyer programs enacted in 2025, so you can enter the market with confidence.
1. First-Time Home Buyer Incentive (FTHBI)
As an eligible first-time buyer, you may receive 5% or 10%, of your home’s purchase price to put towards your down payment, through a government-backed incentive. The purpose? To help lower your monthly mortgage payments without adding to your financial burden.
Here are the key details:
-Available to Canadian citizens, permanent residents, and newcomers.
-New or resale home.
-Household income is below $120,000.
2. RRSP Home Buyers’ Plan (HBP)
First-time home buyers can withdraw up to $35,000 from their RRSP tax-free to use towards their down payment and here’s why it’s important: You will have 15 years to return these funds to your RRSP. You and your spouse/Common Law partner may both utilize the program.
3. Land Transfer Tax Rebates
Depending on your Province you may qualify for a full or partial rebate on your land transfer tax. Alberta does not charge land transfer taxes like Ontario or BC does, but, maybe your buyer is coming from another Province.
4. GST/HST New Housing Rebate
When you purchase a new home or substantially renovate a home, you may qualify for a rebate to recover some of the GST or the federal portion of the HST paid on the purchase.
Insider Tip from Alejandra Díaz
“By far, the biggest mistake I see first-time buyers making is not fully taking advantage of the incentives available to them. As a Mortgage Agent in Alberta, I help my clients get to know every option, ensuring they save, secure the best rate and buy with confidence. ”
Eligibility requirements for First-Time Buyer Programs
Generally, in order to qualify, you must:
-Be a Canadian citizen or permanent resident.
-Not have owned a home within the last 4 years (in most cases).
-Truly intend to occupy the home as your primary residence.
Need Help with Your Options?
Alejandra Díaz offers consultations for first-time buyers in Alberta and across Canada. Whether you are just looking for guidance on qualifying, to compare lenders or explore the best mortgage, terms and conditions – Alejandra will be right beside you.
Book Your Free Appointment
Don’t leave thousands of dollars in potential savings on the table. Get government incentives and advice from a first time buyer expert today.
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