First-time home buyer in London, Ontario: the help you can get, and how to start
As a first-time buyer, you may qualify for up to five government programs. They can cut your taxes and help you save your down payment.
You might be worried you will miss one, or pay more than the home is worth. We show you both before you sign.
Program rules on this page were checked on Canada.ca, Ontario.ca and CMHC on October 6, 2026. Governments change them, often at budget time.
The Bottom Line (Quick Answer)
- First-time buyers can use up to five government programs. You may qualify for more than one.
- You need at least 5% down on a home of $500,000 or less. You cannot buy with nothing down.
- The Ken Small Real Estate Team helps first-time buyers in London, Ontario. It costs $495 to start. Our 3% is paid from the seller’s side of the deal.
The short version
- Ontario’s $4,000 refund is stricter. You cannot have ever owned a home, anywhere in the world.
- The federal loan is gone. It closed to new applications on March 21, 2024.
- Start with a pre-approval, then a 15-minute call with Ken.
What help can a first-time home buyer in London, Ontario get?
Up to five programs. Four are federal and one is from Ontario.
| Program | What you get | Source |
|---|---|---|
| Ontario land transfer tax refund | Up to $4,000 back. That means no land transfer tax on the first $368,000 of the price. | Ontario.ca (new tab) |
| First Home Savings Account (FHSA) | Save up to $40,000 in all. You get $8,000 of room the year you open it. What you put in is generally tax-deductible. | Canada.ca (new tab) |
| RRSP Home Buyers’ Plan | Take up to $60,000 out of your own RRSP for your first home. You pay it back over 15 years. | Canada.ca (new tab) |
| GST/HST rebate on a new home | Up to $50,000 back on a newly built home. The full rebate is at $1 million or less. It shrinks between $1 million and $1.5 million, and there is none at $1.5 million or more. Your agreement must be signed on or after March 20, 2025, and before 2031. You and your partner can only get it once. | Canada.ca (new tab) |
| Home buyers’ amount (tax credit) | Claim up to $10,000 on your tax return. It lowers your federal income tax. | Canada.ca (new tab) |
Checked October 6, 2026. Your broker or accountant confirms which ones fit you. We will point you to people we trust.
Do I qualify as a first-time home buyer in Ontario?
It depends on the program, because the rules are not the same. For the federal programs, look back four calendar years, plus this one.
If neither you nor your partner lived in a home one of you owned in that time, you likely qualify.
Ontario is stricter. For the $4,000 refund, you cannot have ever owned a home, or part of one, anywhere in the world.
Say you bought a condo in 2015, sold it, then rented for ten years. You qualify for the federal programs. You do not qualify for the Ontario $4,000.
If no one tells you, you find out at closing, from your lawyer. By then it is too late to plan around it, and it can cost you up to $4,000.
Is there a first-time home buyer loan in Ontario?
The federal one is gone. The First-Time Home Buyer Incentive closed to new applications on March 21, 2024 (source: CMHC, new tab).
Today, your first-home loan is a regular mortgage. Here is the least you can put down:
| Home price | Minimum down payment |
|---|---|
| $500,000 or less | 5% of the price |
| $500,000 to $1.5 million | 5% of the first $500,000, plus 10% of the rest |
| Over $1.5 million | 20% of the price |
Source: Financial Consumer Agency of Canada (new tab). Put down less than 20%, and you will typically need mortgage loan insurance.
Two more things help. Since December 15, 2024, first-time buyers can get a 30-year amortization on an insured mortgage. Source: Department of Finance Canada (new tab). And the Home Buyers’ Plan lets you borrow from your own RRSP.
Next step: how to get pre-approved for a mortgage. Short on savings? Read can you buy with zero down?
What does it cost to buy your first home in London?
Plan for your down payment, plus closing costs. Here is what most buyers pay at closing:
- Land transfer tax — set by Ontario. London adds no city land transfer tax; only Toronto does. Your refund can cover some or all of it.
- Your lawyer — handles the closing paperwork and the title transfer.
- Title insurance — a one-time premium that protects your ownership.
- Mortgage loan insurance — only if you put less than 20% down.
- Home inspection — your choice. We coordinate it.
- Adjustments — your share of property tax or utilities the seller already paid.
For the dollar amounts, line by line, see what it costs to buy a house in London.
The average sale price in the City of London was $591,927 in September 2026. Source: LSTAR Residential Market Activity Report, September 2026. What this actually means for you is that your street and your price range can be very different. So start from your own budget, not the average.
What it costs to work with us: $495 to start. Our 3% commission is paid from the seller’s side of the deal. If a seller offers our brokerage less than 3%, you never pay the difference. It is all in your Buyer Representation Agreement, before you sign. What it costs to buy a home with us.
What if I overpay, or buy a lemon?
This is the fear that keeps people up at night, and it is fair. Before you offer, we show you what similar homes sold for. You decide what to pay, with the facts in front of you. Your home inspection is your choice, and we coordinate it.
Then you get two things most buyers never hear offered. When we represent you, on any home you buy through our team, not just our own listings:
- A 1-Year Canadian Home Shield SafeClose™ Warranty. It covers major systems and appliances, with up to $15,000 of protection and a $100 deductible. Paid for by us. It starts the day you take possession.
- A Love Your New Home Guaranteed or I’ll Sell It For Free certificate. If you decide within 24 months that the home is wrong, we list it for free.
The whole deal, in plain English
- The certificate is valid for 24 months from your purchase.
- Your next home must be of equal or greater value and bought through the Ken Small Team.
- “Free” covers the listing-side commission only. You would still be responsible for the buyer agent’s fee on the sale.
- The warranty is provided through Canadian Home Shield SafeClose and is subject to its own deductibles and limits.
- The certificate is required to exercise the guarantee, and you receive it at possession.
Separately, some London listings are Certified Pre-Owned Homes. That is our seller program. The owner pays to have the home pre-inspected before it hits the market.
If one comes up that suits you, you get the inspection summary up front. We will point them out. We cannot promise one will exist when you are shopping.
Where do I start? Your path to the keys
Start with a pre-approval, then a 15-minute call with Ken. After that, the path looks like this:
- Get pre-approved
Your real budget, and offers sellers take seriously.
- Figure out where
We walk London’s neighbourhoods with you, including the ones that are not your fit.
- Tour and vet
We see homes with you and tell you the truth about each one.
- Offer, with a strategy
Priced on recent sales, protected by the right conditions. Not a blind bid.
- Inspect, close, keys
We handle the moving parts and keep you clear on every step to the finish.
We help first-time buyers in London and nearby towns: Komoka, Kilworth, Mount Brydges, Delaware, Dorchester and Strathroy. See how long buying takes, or take the Buyer Readiness Check.
Who this is not for
If you want an agent who opens doors and stays quiet, we are probably not your team. We push back on a bad house. We run the numbers out loud. And we will talk you out of a home that is wrong for you.
Not ready yet? We will tell you that. Then we help you build the plan to get there.
What London buyers say about the Ken Small Real Estate Team
★★★★★“All the way from the start of the house search, Ken was there to help at every step. From setting up search criteria that exactly met our needs, to getting viewings scheduled, to providing honest feedback about the properties (which is often rare for most agents); Ken went above and beyond our expectations. 10/10 experience with Ken.”
J H · Buyer · Apr 2023 · via Google
All testimonials and Google reviews are verified, unedited statements from actual past clients of the Ken Small Team.
4.9 average from 14 Google reviews, as shown on our reviews page (October 2026). Read every review →
The honest takeaway
You will never hear us tell you to just win it. If a home is wrong or overpriced, we will tell you.
Common questions from first-time buyers in London
What help is there for first-time buyers in Ontario?
How much do I need for a down payment on my first home?
Who counts as a first-time home buyer in Ontario?
Is the First-Time Home Buyer Incentive still available?
What if I can’t afford a home yet?
Do first-time buyers need a real estate agent?
How do I buy a house in London, Ontario?
How do I get started?
Talk to Ken about buying your first home in London
Fifteen minutes, no obligation, no pressure. We will tell you where you stand and what comes next, even if the answer is “wait a few months.”
Fire us any time before you make an offer. Only the $495 retainer stays with us, because that work is done.
About Ken Small
Ken Small, REALTOR®, has been a real estate agent in London since 2003. He leads the Ken Small Real Estate Team at Century 21 First Canadian Corp., Brokerage. The office is at 420 York Street, London, ON N6B 1R1. RECO #4727293. Meet the team →