Making Homes More Affordable: How RateShop Mortgage Helps First-Time Buyers Save Using Government Programs

Buying your first home is a major milestone—but in today’s market, it's also a major financial challenge. Fortunately, the Government of Canada has introduced several programs to make homeownership more affordable, including a new GST rebate for first-time homebuyers on new homes up to $1.5 million. At RateShop Mortgage, we’re committed to helping buyers navigate and benefit from these programs. Here's a detailed look at how you can qualify, apply, and save—along with how we guide you through every step.

🏡 The New GST Rebate for First-Time Homebuyers (2025 Update)

✅ What Is It?

Announced in May 2025, this program offers a full or partial GST rebate for eligible first-time homebuyers purchasing newly constructed homes valued up to $1.5 million. This is a major expansion of affordability support for the middle class, especially in cities like Toronto, Vancouver, and Ottawa, where average home prices have historically exceeded earlier rebate caps.

💰 How Much Can You Save?

Example Savings:

🎯 Who Qualifies?

• First-Time Buyer: You and your spouse/common-law partner must not have owned a home in the past four years.

• Canadian Resident: Must be a Canadian citizen or permanent resident.

• Primary Residence: The home must be your primary residence. -

• Newly Built Home: Must be a new or significantly renovated home. -

• Price Cap: Full rebate for homes up to $1 million, phased out up to $1.5 million.

🧭 Step-by-Step: How RateShop Helps You Access the Rebate

1. Determine Eligibility: We confirm your eligibility as a first-time buyer.

2. Pre-Approval & Budget Planning: Get pre-approved and shop for eligible homes.

3. Connect with Builders: Ensure your home meets rebate conditions.

4. Secure Financing: Find the best mortgage with RateShop’s 50+ lender network.

5. Claim Your Rebate: We help you complete the rebate paperwork correctly.

🧮 How This Compares to Other First-Time Buyer Programs

• GST Rebate (2025): Up to $50,000 rebate on new home purchases.

• First-Time Home Buyer Incentive: 5–10% shared equity loan.

• Home Buyers' Plan (HBP): Up to $60,000 RRSP withdrawal.

• First Home Savings Account (FHSA): Up to $40,000 in tax-free savings.

🤝 Why First-Time Buyers Choose RateShop

RateShop Mortgage goes beyond rate shopping to become your trusted advisor. We provide: - Education on programs and eligibility. - Access to over 50 lenders. - Application and paperwork assistance. - Negotiation support with builders.

📞 Ready to Get Started?

Let RateShop Mortgage help you: - Access up to $50,000 in tax rebates - Secure the best mortgage rate in Canada - Buy your first home with confidence Start your application here: https://go.rateshop.ca Or schedule a free consultation with one of our licensed mortgage professionals.

📝 Final Thoughts

Government programs like the GST rebate can make the difference between being priced out and finally owning your home. But the rules can be tricky, and missing a step can cost you thousands. That’s why working with a mortgage broker like RateShop gives you the edge—we make homeownership affordable, accessible, and achievable.