Buying your first home can be exciting and nerve-racking. With it being one of the more costly purchases in your lifetime, we understand that calculating your affordability is crucial.
With plenty of programs available for first-time home buyers, we dial into your application with a fine tooth comb to ensure the best approval possible for you.
We even have access to products and services that are not widely available at the banks offering you a hassle-free mortgage experience and closing process.
Mortgages For Your First Home And More
Paying Off Debts
First Home
Wedding
Dream Car
Buying Your First Home Required Documents
Here is a list of mandatory documents required for us to review your mortgage application.
- Purchase And Sale Agreement (If Pre-construction).
- Confirmation Of Deposits Provided To Your Builder (If Pre-
construction). - Mortgage Application Form.
- Valid Driver’s Licence.
- Social Insurance Number.
- Equifax/Transunion Report.
- Proof Of Income (Can Include Any 2) Recent Pay Stubs, T1 General
Tax Form, 2 Years Notice Of Assessment, T4 OR T4A Tax Forms, Letter Of
Employment.
Ready to Apply ?
Download an application form or apply online today.
Express Application
Apply online by using our express app and get ready for white-glove service!
Apply OnlineFull Application
Simply fill out our online mortgage application and we’ll call you back for further review.
Apply NowReady to get into your first home?
Fill out the mortgage application and get a head start on your approval.
Frequently Asked Questions
You’re required to put a minimum of 20% down, however, you can always put lesser than 20% but you will be required to opt-in to CMHC insurance.
Canada has a Mortgage default insurance program that covers lenders in case you stop making payments on your mortgage. CMHC insurance is required by law for down payments of less than 20% of the purchase price, which means that this type of coverage will always be available to you no matter what.
Part of the mortgage approval process is to get your home appraised. This process usually comes during the mortgage application process. The lender that best serves your needs and budget will request a full appraisal. Sometimes it could be as simple as a driveby appraisal in which the appraisers will drive by your home and take pictures. They could also take a look at comparable homes in your area to identify best what the current market value of your home could be.
It’s always a great idea to keep a pulse check on your credit score because it could impact the mortgage application process as well as the rates we can shop for you. Visit the Equifax website and get started on getting your credit report.
The debt-to-income ratio is a measure of how much you owe versus what’s left over after your monthly expenses are paid. Don’t worry; our team of mortgage professionals will calculate this for you once your share all of the required income documents.
The most important thing to consider when buying your first home. If you want the lowest possible interest rate and/or longest repayment period, then make sure that’s what you're looking for in a mortgage product! But our team of mortgage strategists is here to help you navigate and provide you with our best recommendations.
If you haven’t checked already, visit our Mortgage Affordability Calculator here to see how much you can afford in today’s market!
The first thing you should do is give our team a call, or fill out our full application here. Once you provide all required documents and our team reviews your application, it could take 24-48 hours for us to get back to you with an approval. Yup, it’s that quick!
The Home Buyer’s Plan is a great tool for first-time homebuyers who want to take advantage of investing their money in something that will generate long-term returns. With this program, you can withdraw up to $35,000 from your Canadian registered retirement savings plan, tax-free and use it towards buying your first home. This can only be used on your first purchase. For more information visit here.