Committed to making your mortgage approval process stress free and efficient for over 25 years, Sunlite Mortgage is one of Toronto, Canada’s leading mortgage brokerages.
If you’re a first-time homebuyer, a newcomer to Canada, or a self-employed individual, buying a home is a challenge. However, 2025 is shaping up to be one of the best years to enter the Canadian real estate market. With lower mortgage rates, government incentives, and more home options available, now could be the perfect time to secure your dream home.
The Bank of Canada has cut interest rates six times since June 2024, reducing the key rate to 3%, with more cuts expected in 2025.
✅ First-time buyers can qualify for larger mortgages with lower monthly payments.
✅ Newcomers to Canada with limited credit history benefit from lower borrowing costs.
✅ Self-employed individuals may find it easier to qualify as lenders become more flexible.
👉 Bottom Line: Lower interest rates mean you can afford more homes for the same monthly payment.
The Canadian government has introduced new policies to help more people buy homes, including first-time buyers, newcomers, and self-employed individuals.
🔹 Higher mortgage price caps – Buyers with less than 20% down can now qualify for higher-priced homes.
🔹 30-year amortization – Lower monthly payments make homeownership more affordable.
🔹 New to Canada mortgage programs help permanent residents and some temporary workers qualify more easily.
🔹 Lenders offer special mortgage options even if you have a limited Canadian credit history.
🔹 Flexible mortgage qualifications – Some lenders accept bank statements or business income instead of pay stubs.
🔹 Lower down payments – Access insured mortgage programs with as little as 5-10% down.
👉 Bottom Line: These programs make mortgages easier to qualify for, more affordable, and more accessible—even if you’re new to Canada or self-employed.
The Canadian real estate market in 2025 is seeing an increase in newly built homes and resale properties, meaning buyers have more options and negotiating power.
✅ Less competition – Bidding wars are becoming less common, giving buyers more control.
✅ More choices – From condos and townhouses to detached homes, there are more properties available.
✅ Better deals – With a balanced market, sellers are more flexible on price, closing costs, and upgrades.
👉 Bottom Line: More homes on the market mean you can find the right property at the right price—without the stress of competing against multiple buyers.
Although the market is currently favourable for buyers, delaying your purchase could mean missing out on these benefits:
🔹 Home prices may rise as more buyers return to the market.
🔹 Interest rates won’t stay low forever, meaning mortgages could become more expensive.
🔹 Government incentives could change, and current programs might not be available in the future.
👉 Bottom Line: Acting now lets you lock in lower rates, secure better financing, and take advantage of current government programs before the market shifts.
At Sunlite Mortgage, we specialize in helping first-time buyers, newcomers, and self-employed individuals secure the best mortgage rates and terms. With access to over 60 lenders, we ensure you get the right mortgage solution for your needs.
If you’re a first-time buyer, newcomer, or self-employed individual, the key to homeownership is understanding your mortgage options and getting pre-approved early.
📌 Next Steps:
✔️ Talk to a mortgage specialist who understands your unique situation.
✔️ Explore government programs and low down payment options.
✔️ Get pre-approved so you can shop for homes with confidence.
🏡 2025 is your year to become a homeowner—don’t miss out!
