New federal regulations have significantly altered the landscape for Toronto buyers, particularly in the high-demand price range.
As of late 2024, the cap for insured mortgages (less than 20% down) increased from $1 million to $1.5 million . buy house in toronto canada
First-time buyers can withdraw up to $60,000 from their RRSP tax-free, provided it is repaid over 15 years. 3. The "Toronto Tax" & Closing Costs 000 from their RRSP tax-free