Question 1

What’s the minimum down payment for a first-time buyer in Newmarket?

Accepted Answer

We follow the Canada-wide rule—5% on the first $500,000 of the purchase price and 10% on any amount above that. If you’re eyeing a $650k starter near Mulock Drive, you’d need $40,000 down (5% of $500k + 10% of the remaining $150k).

Question 2

Do we qualify for the First-Time Home Buyer Incentive?

Accepted Answer

If your household income is $120,000 or less and your mortgage is four times that amount or under, you may receive a 5%–10% shared-equity boost from the federal program. We’ll crunch the numbers and submit the paperwork.

Question 3

How do Newmarket property taxes affect our monthly payment?

Accepted Answer

York Region lets you roll property taxes into your mortgage payment, which can make budgeting easier. We’ll calculate an “all-in” amount so there are no surprises when tax bills arrive.

Question 4

Can we buy a home over $1 million with just 5% down?

Accepted Answer

Homes priced above $1 million aren’t eligible for CMHC insurance, so a 20% down payment is required. We’ll map out high-ratio versus conventional options to make sure your dream property on Leslie Street fits comfortably within your budget.

Question 5

How fast can we get pre-approved with your team?

Accepted Answer

With complete documents, most Newmarket clients receive a solid pre-approval in 24–48 hours.

First Time Home Buyer Mortgages in Newmarket, Ontario

First-Time Buyer Mortgage Advantage in Newmarket

Minimum 5% Down Payment

FHSA & RRSP Integration

Rebate & Tax Guidance

Fast 24-48 Hr Pre-Approvals

Property Tax Bundling

Local Step-by-Step Support

Why Newmarket Trusts Us for First-Time Home Buyer Mortgages

FAQs for Mortgages for First Time Home Buyers in Newmarket, Ontario