There is no single "first-time buyer program." There are several separate federal and Ontario programs, each with its own rules. This page explains every one that applies to buyers in Markham, so you can see what you qualify for and plan to claim it at the right time.
Most first-time buyers in Markham can use two or three programs together. Save in a First Home Savings Account (FHSA), add money from your RRSP through the Home Buyers' Plan, get up to $4,000 back on Ontario land transfer tax, and claim the $1,500 federal tax credit at tax time. Buying a brand new home? The First-Time Home Buyers' GST rebate can save up to $50,000 more. The key is setting up the savings programs early, because some of the rules depend on timing.
| Program | What you get | Resale or new | When to act |
|---|---|---|---|
| First Home Savings Account (FHSA) | Save up to $40,000 tax-deductible, withdraw tax-free | Both | Open as early as possible |
| RRSP Home Buyers' Plan (HBP) | Borrow up to $60,000 from your RRSP tax-free | Both | Funds in your RRSP 90+ days before withdrawal |
| Ontario land transfer tax refund | Up to $4,000 off provincial land transfer tax | Both | At closing (or within 18 months) |
| First-Time Home Buyers' Tax Credit | $1,500 off your federal income tax | Both | Your tax return for the year you buy |
| First-Time Home Buyers' GST rebate | Up to $50,000 of GST on homes up to $1 million | New only | Builder agreement signed March 20, 2025 to 2030 |
| Ontario first-time buyer HST rebate | Up to $80,000 of the provincial HST | New only | Announced; confirm status with your lawyer |
| 30-year insured mortgage | Lower monthly payments with under 20% down | Both | Ask your lender at pre-approval |
Markham buyers do not pay a municipal land transfer tax. That tax applies only in the City of Toronto.
The FHSA combines the best of an RRSP and a TFSA. Contributions reduce your taxable income, and withdrawals for a qualifying first home are tax-free.
Kaizen's advice: open an FHSA as soon as you think you might buy, even if you only put in a small amount. Contribution room only starts building once the account is open.
The HBP lets you withdraw money from your RRSP to buy or build a qualifying home, without paying tax on the withdrawal.
Yes. You can use both for the same purchase. Together that is up to $100,000 per person, or $200,000 for a couple, plus any growth in your FHSA.
First-time buyers can get up to $4,000 back on Ontario land transfer tax. In practice, that means no land transfer tax on the first $368,000 of the price.
A non-refundable federal tax credit of $1,500 ($10,000 x 15%), claimed on your income tax return for the year you buy. Couples can split it, but the total can't go above $1,500.
If you are buying a newly built home from a builder, HST is part of the price. These rebates can make a large difference on a new home in Markham.
Ontario has announced a matching rebate of up to $80,000 on the provincial 8% portion of the HST for first-time buyers of new homes, using the same rules as the federal rebate. Combined, that could mean up to $130,000 in relief. Ontario's 2026 Budget also proposed temporary HST relief on new homes for all buyers, for agreements signed April 1, 2026 to March 31, 2027.
Some of these measures still needed final legislation or regulations when this page was updated. Before signing with a builder, ask your real estate lawyer to confirm exactly what applies to your agreement.
Thinking about new construction? See Kaizen's guide to new construction in Markham.
For a full breakdown of down payments, mortgage insurance and closing costs, see Kaizen's step-by-step guide for first-time buyers.
This is where most people get caught. Each program defines "first-time buyer" a little differently, so you can qualify for one and not another.
| Program | First-time buyer means | Other key rules |
|---|---|---|
| FHSA | You didn't live in a home you or your spouse owned in the current year or the previous 4 calendar years | Canadian resident, age 18 or older |
| Home Buyers' Plan | Same 4-year test as the FHSA. Some exceptions apply after a separation, or when buying for a relative with a disability. | Must live in the home within one year |
| Federal tax credit | Same 4-year test | Home must be registered in your name or your spouse's |
| GST/HST rebate (new homes) | Same 4-year test, and neither you nor your spouse has received this rebate before | Canadian citizen or permanent resident, age 18 or older, primary residence |
| Ontario land transfer tax refund | You have never owned a home anywhere in the world, and your spouse hasn't owned one while you were together | Canadian citizen or permanent resident, age 18 or older, move in within 9 months |
Example: if you owned a condo ten years ago and have rented since, you may qualify for the FHSA, the Home Buyers' Plan and the tax credit, but not the Ontario land transfer tax refund.
Here's how the programs might work for a couple buying their first home together, both qualifying for every program.
For illustration only. Your numbers depend on your price, savings and eligibility. The Kaizen Real Estate Team will run them with you.
One conversation to see which programs fit your situation and roughly what they're worth to you.
Someone who works with first-time buyers every day and knows how the FHSA and Home Buyers' Plan fit into your approval.
When to open and fund your FHSA, when RRSP money needs to be in place, and what your lawyer needs at closing.
The team matches your full budget, including the programs you'll use, to the right Markham neighbourhoods and property types.
Offers, negotiation and conditions, always on your side.
The team works with your lawyer so the land transfer tax refund and any new-home rebates are applied correctly.
Possibly. For the FHSA, Home Buyers' Plan, tax credit and new-home GST rebate, you qualify if you haven't lived in a home you or your spouse owned in the current year or the previous four calendar years. For the Ontario land transfer tax refund, you must never have owned a home anywhere in the world.
Yes. You can use both for one purchase, which means up to $40,000 from your FHSA plus up to $60,000 from your RRSP per person.
Not necessarily. You can open one and contribute up to $8,000 this year, and the contribution reduces your taxable income. There are rules about timing withdrawals around your purchase date, so speak with your bank or mortgage professional before you sign an offer.
No. The First-Time Home Buyers' GST rebate and Ontario's HST rebates apply only to newly built or substantially renovated homes bought from a builder. Resale homes don't have GST or HST on the price.
Yes. You can apply directly to the Ontario Ministry of Finance within 18 months of the date your purchase was registered.
No. Markham buyers pay only the Ontario land transfer tax. The extra municipal land transfer tax applies only to homes in the City of Toronto.
The federal shared-equity mortgage program closed to new applications in March 2024. It is no longer an option for new purchases.
One call with Michael John Lau, REALTOR®, or Neeraj Moolchandani. The team will walk through which programs fit your situation, what they're worth to you, and the order to set them up, before you make an offer on anything.
Program details verified October 2026 and subject to change by the federal and Ontario governments. This page is general information, not tax, legal or mortgage advice. Confirm your situation with your accountant, lawyer or mortgage professional. Kaizen Real Estate Team, eXp Realty, Brokerage.