On the hunt for a home in the Greater Toronto Area? Let’s face it, it can all get a little confusing. Questions like “Am I financially ready?” and “Where do I even begin?” are just the tip of the iceberg. 

But it doesn’t have to be so overwhelming.

You may have heard of True North Mortgage before – the group is well known for offering some of the lowest mortgage rates in the market. But they’re also on a mission to make the whole home-buying process easier for first-timers. 

first-time buyers
Photo via True North Mortgage

Over the past 17 years, they’ve helped a lot of people move out of their parents’ basement or break free from the renting cycle. Now, they’ve even released a First Time Home Buyer’s Guide to help you kickstart your journey. 

We’ve teamed up to serve you some sweet tips that will hopefully bring you one step closer to the home of your dreams. 

first-time buyers
Photo via True North Mortgage

Get the best mortgage rate in Canada

The first step is choosing the right mortgage provider – and who doesn’t want to save as much money as possible? True North has some of the lowest rates out there, offering a six-month fixed rate starting from 3.99%. 

In fact, its rates are 0.20% lower on average than big banks and other mortgage lenders. It’s a no-brainer!

Get your foot in the door

Sometimes, you need a little extra help to get started – and that’s okay! If you’re someone who might not tick all the boxes for a standard mortgage, be sure to consider all of the options available to you. 

For example, you could opt for a co-signer on your mortgage (someone who can help an applicant qualify when they aren’t eligible on their own), opt for a rent-to-own agreement (where you pay rent  for a certain amount of time with the option to buy at an agreed upon future date and price), or look into True North’s alternative mortgage solutions

first-time buyers
Photo via True North Mortgage

Take advantage of helpful programs 

The Government of Canada offers a number of programs designed to help you become a homeowner – so use them! 

Some of the most popular include the First Home Savings Account (FHSA), which offers a tax-free way to save and withdraw funds towards your first home down payment, and the RRSP Home Buyers’ Plan (HBP), which lets you borrow from your savings tax-free to put towards a down payment, (though you’ll need to pay it back over time).

There’s also the Federal First-Time Home Buyers’ Tax Credit that can provide up to $1500 to put towards closing costs. 

Do the research and find what works for you!  

first-time buyers
Photo via True North Mortgage

Work with a True North Mortgage specialist 

True North just gets it. They want to find you your best rate and a mortgage that aligns with your goals – while making things as stress-free as possible.

Their salaried, non-commission-based specialists offer unbiased advice that puts you first, answering your questions every step of the way. Whether you apply online, over the phone, or stop by a location, you’ll connect with a real person who actually cares about your journey. 

Plus, with over 15k five-star reviews across Google, Facebook, and TrustPilot, you can rest assured you’re getting the service you deserve.

first-time buyers
Photo via True North Mortgage

Use the First-Time Home Buyer’s Guide

Last but definitely not least, True North’s simple yet comprehensive First-Time Buyer’s Guide talks you through the whole process and helps you maximize your affordability in the GTA. 

It’s jam-packed with essential information on all phases of home buying, useful tips to keep you focused, and worksheets and checklists to help you stay on top of the important details. With this guide by your side, you’ll be walking through the door of your new home in no time!

Oh, and did we mention – it’s totally FREE? 

Simply download the guide by entering your name and email over on the True North Mortgage website below!