Mortgage Pre-Approval
A rate-held pre-approval with A-lender documentation so your offer holds up with sellers and agents.
Learn moreKnow your real budget before you shop
Ontario - License #11000073 · Nova Scotia - Licence #2023-3000786 · Mortgage Outlet Inc #12628
First-time home buyer mortgages in Ontario
Before you fall in love with a listing, you should know the number you actually qualify for, the cash you need on closing day, and the payment you will live with for five years. That is the conversation we start with.
Who this is for
- Buying your first home in the next 1–12 months
- Strong credit and verifiable income (A-lender files)
- Saved 5%–20% down payment, or using FHSA/RRSP funds
- Want a written budget before you make an offer
What's included
A real qualification number
We calculate what lenders will approve using your income, debts and the stress-test rate — not an online slider.
Down payment and closing cost map
Minimum down payment, default insurance premium, land transfer tax, legal fees and title insurance, itemised in one sheet.
Rate-held pre-approval
A documented pre-approval that holds your rate while you shop, so a rate increase mid-search does not shrink your budget.
Offer-night support
Your agent can call us while you are writing an offer. We confirm financing conditions in plain language.
How much down payment do you need in Ontario?
Under $500,000 the minimum is 5% of the purchase price. Between $500,000 and $1,500,000 it is 5% on the first $500,000 and 10% on the balance. Above $1,500,000 lenders require 20% down and default insurance is not available.
Any down payment under 20% requires mortgage default insurance, which is added to your mortgage balance rather than paid on closing. We show you the premium in dollars so it is never a surprise on your lawyer's statement.
Programs first-time buyers should ask about
The First Home Savings Account (FHSA) lets you contribute and withdraw tax-free for a qualifying purchase. The RRSP Home Buyers' Plan allows a withdrawal toward your down payment, repaid over time. Ontario and Toronto both offer land transfer tax rebates for eligible first-time buyers.
These stack. Used together they often change the timeline of a purchase by months, and we will tell you when waiting is genuinely the better financial decision.
What we need from you
Two recent pay stubs, a letter of employment, two years of T4s or notices of assessment if you are self-employed or commissioned, and confirmation of your down payment source. Documents come in through secure upload — nothing sensitive over plain email.
How the process works
- 1
Budget call
A 20-minute call to map income, debts, savings and the closing cash you actually need.
- 2
Document review
You upload income and down payment proof securely; we flag anything a lender will question.
- 3
Rate-held pre-approval
We submit to the A lender that fits your file and hold the rate while you shop.
- 4
Offer to closing
We confirm financing, order the appraisal if required, and instruct your lawyer.
Documents we'll ask for
- Two most recent pay stubs
- Letter of employment (dated within 30 days)
- Last two years of T4s or notices of assessment
- 90-day history of down payment funds
- Photo ID and confirmation of Canadian status
Documents come in through secure upload — never plain email. Missing something? Send what you have and we'll tell you what still matters.
Run the numbers
Calculators for this file
Mortgage Affordability Calculator
Find your maximum purchase price using the same GDS, TDS and stress-test limits Ontario lenders apply.
Open calculatorOntario Land Transfer Tax Calculator
Provincial and Toronto municipal land transfer tax, with first-time buyer rebates applied automatically.
Open calculatorMortgage Payment Calculator
See your payment at any frequency, the interest you pay over the term, and the balance left at maturity.
Open calculatorRelated mortgage services
Self-Employed Mortgages
Business-for-self files structured properly, using the income lenders will actually recognise.
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Newcomer programs for permanent residents and work-permit holders with limited Canadian credit.
Learn moreCredentials you can check
A-lender access
Banks, monolines and credit unions compared side by side.
Mortgage Agent Level 2
Licensed Mortgage Agent Level 2 serving Ontario borrowers.
Same-day callbacks
You speak with an agent, not a call queue.
CMP Top 75 Agent 2025
Recognized among Canada’s top mortgage professionals in 2025.
15+ years experience
Helping Ontario borrowers find the right mortgage for over 15 years.
- How much mortgage can a first-time buyer qualify for in Ontario?
- Lenders qualify you at the higher of your contract rate plus 2% or 5.25%, and cap your total debt payments as a share of gross income. Two households with the same salary can qualify very differently depending on car loans, credit lines and property taxes. We run your actual numbers on the first call.
- Does a pre-approval guarantee my mortgage?
- No. A pre-approval confirms the rate and the amount based on the information reviewed. Final approval depends on the property appraising and your circumstances staying the same, which is why financing conditions on an offer matter.
- Should I use a agent or my own bank as a first-time buyer?
- A agent submits one application to several A lenders and compares the results. If your bank's offer wins on rate and terms, we will say so — but you will know that instead of assuming it.
Find out what you actually qualify for
Send the basics and we'll come back with real lender options, or call and get an answer on the first conversation.