First Time Home Buyer Mortgage
Goal of buying your first home? Lets make it happen! I want to be a part of your journey
Buying a home is a big decision. Before meeting a mortgage broker or lender, it is important to figure out your budget.
Once you know how much you can afford to spend for housing expenses, this will help eliminate future stress.
First Time Home Buyer Programs
allows you to borrow funds from your retirement savings towards the down payment.
Withdrawal limit is $60,000. You have up to 15 years to repay the funds back to your RRSP account.
further details here.
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First Home Savings Account (FHSA)
lets you save in a tax free way and withdraw funds for your first home purchase.
Annual contribution limit is $8,000. Lifetime contribution limit is $40,000.
further details here.
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First Time Home Buyer Tax Credit
claim up to $10,000 when purchasing a qualifying home for a non-refundable tax credit of $1,500
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First Time Home Buyers Incentive (FTHBI)
This has been discontinued. Submission deadline was March 21, 2024.
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Budgeting
Potential homeownership expenses
Cost of owning a home is very different when compared to renting or living at home. It's important to determine if the expenses of owning a home fits comfortably within your monthly budget. Some costs often overlooked may be, insurance, maintenance, property tax, utilities, condo fees etc. Feel free to check out our purchase calculator.
Be ready before you search
Process includes reviewing income, credit, debts, down payment and more.
Knowing the purchase price will simplify the house hunting journey. This helps narrow down the options for the home that suites your interest. If there are multiple offers on a home, this helps your offer stand out as a prepared buyer.
There will also be options to secure a pre-approval rate hold in case rate market increases.
What if I just want rough numbers?
Thats simple! Pre-qualify in minutes!
No documents, no credit check.
When you're ready, let us know!
Home buying simplified from beginning to end
Let us guide you through the process. From reviewing mortgage qualification to mortgage approval.
Time frame for home purchase from application submission to possession is approximately 3 - 4 weeks.
We will go over documents required during pre-approval stage, once you've found a home, we will review the current best mortgage options.
When the mortgage approval has been completed, your lawyer will take care of the rest!
Lowest Mortgage Rates
Are lower rates always better?
Lowest rates may not always be the best options. Different lenders have different mortgage products. Lowest rate products may have restrictions or higher penalty calculations, therefore borrowers may sometimes end up paying more. It is best to understand the product before selecting a mortgage option.
With access to 50+ lenders, we are here to help you find the mortgage product that best suites your needs with the best rates!