First-time homebuyers

Services tailored to making your dream a reality

If you’re buying a home for the first time, there are a number of programs and opportunities you can take advantage of. The process can be daunting, but we’re here to explain every step and ensure you understand your options.

How do I get a mortgage as a first-time homebuyer?

Down payment

Minimum down payments on houses vary from 5%-20% depending on the purchase price of the home. As a first-time homebuyer, you will likely be buying property of a lower value, meaning your minimum down payment will be at the lower end of the range.


We can help you determine the mortgage amount and best interest rate you qualify for. Then, we can facilitate a pre-approval so you can make informed decisions when house hunting.

Government credits, rebates and incentives

There are a number of government programs in Canada to help first-time homebuyers get into the housing market. We can help you navigate these programs and take advantage of the ones that apply to you.

Frequently Asked Questions

I am self-employed. Can I get a mortgage?

How do I know which lender is right for me?

What is a pre-approved mortgage?

Am I ready to buy a home?

Buying your first home is a big decision! Here’s how you know you’re ready:

You have access to enough savings or other funds to make a down payment

You have a stable source of income that will allow you to make monthly payments

You have contingency plans in place in case you lose your source of income or experience a financial emergency

You have enough financial security to pay for unexpected repairs/maintenance as needed

You are prepared to take care of a home of your own

Why should I buy instead of renting?

There are many benefits to buying your own home, but there are also risks involved if you rush into the decision.

Benefits of buying your first home:

Build equity by paying off your own mortgage rather than someone else’s

Take advantage of government incentives and programs for first-time homebuyers

Enjoy housing stability

Open up an opportunity to rent your place out when you no longer live there

Risks to consider:

A down payment is a significant up-front cost

Owning a home can result in ongoing, often unexpected costs (e.g. replacing a water heater or other appliances)

Finding the right mortgage, lender and house can be a stressful, time-consuming process

Why work with a mortgage broker to get a second mortgage?

Market knowledge

A broker understands the ins and outs of the local market, interest rates and current mortgage trends, meaning you can sleep easy knowing that you didn’t miss out on a better option

Peace of mind

Buying a home is one of the biggest decisions you will ever make. Working with someone you can trust to help you navigate the process lets you rest assured you are making the best possible choices for the short- and long-term.

Understand all your options

A mortgage broker can listen to your needs and help you properly assess all available options to achieve your homeownership goals.

Related Services

Residential Mortgages

Homebuyer services.

Don’t miss out on the home of your dreams! Get pre-approved for a stress free home purchase.

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Private Lending

Consider options outside of traditional loans.

If you’re unable to secure a mortgage through the usual means, a private lender may be an option.

Learn More

Mortgage Renewals

Save money for what matters most.

Renegotiate your mortgage at renewal to lower your payments and spend more on the things you love.

Learn More

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Get a loan, together. Work with Balzor Singh.