First-time Home Buyer Program
In partnership with
What is HomeStart?
HomeStart is Ironstone’s new first-time home buyer program. We have teamed up with Libro Credit Union to make owning your new home simple and stress-free. When you finance your home with Libro, you may qualify for a $100,000 loan through the HomeStart program by Ironstone on select homes. This interest-free loan helps reduce your upfront downpayment costs and makes homeownership more accessible!
How it works.
- Qualify as a first-time buyer.
- Libro helps you get approved for your primary mortgage
- Ironstone provides a $100,000 interest-free loan toward your deposit through a vendor-take-back position.*
- You repay the $100,000 loan after 10 years or when you sell the home—whichever comes first.
- Buy another Ironstone home within 5 years? You’ll only repay $75,000—a 25% savings.
Why This Matters
For First-Time Buyers?
Many first-time buyers are stuck between rising home prices and the challenge of saving enough for a deposit. Home Start helps you:
- Reduce upfront financial cost
- Enter the housing market sooner
- Save up to $27,000 in interest compared to a traditional mortgage**
- Get rewarded for staying with Ironstone
HomeStart Highlights
- $100,000 Interest-free Loan
- 0% Interest, 0 Payments for 10 Years
- No Transaction Costs
- 25% Forgiveness if you buy another Ironstone home within 5 years
- Available for the next 90 days only
Our Communities
Below is a list of communities that you can apply the HomeStart program to.
FAQ's
HomeStart is Ironstone’s limited-time vendor takeback program that helps first-time home buyers purchase a new Ironstone home by deferring $100,000 of the required deposit, interest-free, for up to 10 years or until the home is sold — whichever comes first.
To qualify, you must:
✅ Be a first-time home buyer
✅ Be purchasing a new Ironstone home
✅ Apply within the 90-day promotional period
Instead of paying the full deposit upfront, Ironstone defers $100,000 through a vendor takeback agreement. You’ll repay this amount when you sell the home or after 10 years — whichever comes first.
No. The Home Start deposit deferral is completely interest-free for the 10-year term.
If you sell your home at any point before 10 years, you repay the $100,000 at that time.
If you purchase another Ironstone home within 5 years, 25% of the deferred amount is forgiven. That means you only repay $75,000, saving you $25,000.
No. There are no transaction costs associated with enrolling in the HomeStart Program.
Yes! HomeStart is compatible with:
Rent.Save.Own. – Earn monthly credits (up to $15,000) while renting.
Flex Haus – Multi-use homes with rental or multigenerational options.
Yes. The HomeStart Program is available for 90 days only. We recommend booking a consultation soon to take advantage before the window closes.
In most cases, yes. However, depending on the specific home price and structure of your purchase agreement, you may be required to provide a smaller initial deposit alongside the deferred amount. Ironstone’s sales team will walk you through the exact structure.
The program is applicable to a wide selection of new Ironstone homes, including traditional townhomes, single-family homes, and Flex Haus models in communities across London and Kitchener Ontario.
The Ironstone HomeStart loan (up to $100,000) is a Vendor-Take-Back (VTB) Mortgage (loan) provided by Ironstone on select move-in-ready homes. Offer available for a limited time and subject to change or withdrawal without notice. Eligibility criteria and approval required.
1Estimated savings of $22,000–$27,000 based on avoiding 10 years of interest on a traditional $100,000 mortgage at a 4–5% interest rate. Actual savings may vary depending on your financing terms. Please consult with a Libro Coach or mortgage advisor for personalized estimates.
Interest-free and payment-free period applies only if no default occurs during the 10-year term of the VTB loan. If the VTB loan is not repaid within 10 years, a $5,000 discharge fee will be charged, and any outstanding balance will accrue interest at a fixed rate of 15% per annum until paid in full.
VTB loan forgiveness of 25% applies only if the buyer sells the original home within 5 years and purchases a new home directly from Ironstone within a specified timeframe. Additional conditions may apply.
VTB loan must be repaid upon sale or refinance of the home unless otherwise approved by Ironstone. This program is only available in combination with a Libro Credit Union first mortgage on qualifying properties.
*Both Libro Credit Union and Ironstone financing is subject to credit approval and underwriting.