First Time Buyers

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Mortgages for First Time Home Buyers

Looking for your first home?

Starting your journey to find a dream home is exciting, yet it requires careful planning and informed decision-making. As your trusted mortgage advisor, my role is to provide clear and honest advice on your financial choices, uncovering essential details sometimes overlooked by banks. With access to a wide range of lenders, my goal is to find you the best rates and mortgage options that match your home-buying dreams. My best advice? Engage with a nearby mortgage specialist early to set the stage for a triumphant home acquisition.

Budget Planning

Navigate your first home purchase with our comprehensive Budget Planning. It's crucial for first-time buyers to understand affordability, ensuring a wise investment aligned with your fiscal reality.

Personalized Guidance

Benefit from our Personalized Guidance service, designed to support first-time buyers at each step, from mortgage application to final approval. We make the journey to homeownership clear and achievable.

Need a pre-approval before you go househunting?

Secure your financial footing before embarking on your house-hunting journey with a mortgage pre-approval. It provides a clear picture of what you can afford, giving you the confidence to shop within your budget. Plus, it signals to sellers that you’re a serious and prepared buyer, potentially making your offer more attractive in competitive markets.

YOUR GUIDE TO FIRST TIME BUYERS

The key steps include assessing your budget, getting pre-approved for a mortgage, finding a real estate agent, searching for homes within your budget, making an offer, securing a mortgage, and closing on the home.

The down payment requirement can vary depending on the property value and your location, but it typically ranges from 5% to 20% of the purchase price. Programs for first-time buyers may allow down payments as low as 3.5%.

Yes, it is possible to buy a home with a low credit score. Some loan programs are designed to help buyers with lower credit scores, though you may face higher interest rates and additional requirements.

Common mistakes include not getting pre-approved, skipping a home inspection, underestimating the costs of homeownership, and not saving enough for a down payment and closing costs.

Many regions offer first-time buyer programs that may include benefits such as down payment assistance, tax credits, and subsidized interest rates. It's important to research and take advantage of any programs for which you are eligible.

Our Trusted Lenders

Harpreet Chhabra, B.COMM, MFC, RRC Mortgage Agent

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