First-Time Buyers in 2026: What's Actually Changed
The 30-year amortization, FHSA, and updated insured mortgage rules — a plain-English guide for Ontario first-time buyers.
Several federal program changes have meaningfully expanded what first-time buyers can qualify for: 30-year amortizations on insured mortgages for new construction, an expanded $1.5M insured mortgage cap, and continued FHSA contribution room.
Combined, these changes can lift maximum purchase prices by 12–18% versus 2024 for the same income. They also change the math on whether to lean on the FHSA, RRSP HBP, or both.
The honest take: incentives matter less than getting the file structured properly. Two buyers with identical income often end up qualifying for very different amounts depending on how their debts, bonuses, and rental income are presented.