First-time home buyers


When it comes to mortgages, it hasn’t always paid to be self-employed namely because reducing your taxable income can make it difficult to qualify for the mortgage you deserve.



mortgage pre-approval

Mortgage pre-approval

Find out how much you can afford for your home purchase. A mortgage pre-approval is an important step in the home buying process and we can help you out. We can help with your financial strategy, your mortgage amount, down payment amount, purchase price and give you an overall idea of what you can realistically afford.


Credit Improvement


New to Canada

New to Canada

Most lenders have policies in place which can accommodate clients who have immigrated to Canada within the last 36 months and who are looking for an insured mortgage. We can connect you with those lenders and incentives to help you get settled.



Compare Payment Schedules
Calculate Maximum Mortgage Value
Calculate Your Mortgage Payments


What are the monthly costs of owning a home?2019-04-01T14:40:48-04:00


What should the length of my mortgage term be?2019-04-01T14:46:16-04:00

The length of mortgage terms varies widely – from six months right up to ten years. As a rule of thumb, the shorter the term, the lower the interest rate, the longer the term, the higher the rate. While four or five-year mortgages are what most home buyers typically choose, you may consider a short-term mortgage if you have a higher tolerance for risk, if you have time to watch rates or if you are not prepared to make a long-term commitment right now. Before selecting your mortgage term, we suggest you answer the following questions:

  2. Do you believe that interest rates have bottomed out and are not likely to drop more? If that’s the case, a long mortgage term may be the right choice for you. Similarly, if you think rates are currently high, you may want to opt for a short to medium-length mortgage term hoping that rates drop by the time your term expires.
  3. Are you looking for security as a first-time home buyer? Then you may prefer a longer mortgage term, so that you can budget for, and manage, your monthly expenses.
What are the costs associated with buying a home?2019-04-01T14:49:01-04:00



You will be responsible for paying the fees and disbursements for the lawyer or notary acting for you in the purchase of your home. We suggest you shop around before making your decision on who you are going to use, because fees for these services may vary significantly. There are closing and adjustment costs, interest adjustment costs between buyer and seller and, depending on where you live, land transfer tax – a one-time tax based on a percentage of the purchase price of the property and/or mortgage amount.


How can I use my RRSP to help buy my first home?2019-04-08T01:18:36-04:00


How much can you withdraw? You can withdraw up to $25,000 from your RRSP. If you buy the home together with your spouse, partner, or someone else, each of you can withdraw up to $25,000, for a total of up to $50,000. The withdrawal from your RRSP does not need to be included in your income on your annual income tax return, and no tax is taken off the money you withdraw.

What is the payback period? You don’t have to start paying back the money to your RRSP until two years after the purchase of the home. You must pay back all withdrawals from your RRSP within 15 years by making RRSP deposits each year, starting the second year following your withdrawal. CRA will determine what your minimum yearly repayment will be, and will notify you once you need to start repaying the amount. If you do not repay the amount due in a given year, it is included in your taxable income for that year and you’ll have to pay income tax on this amount. source: Financial Consumer Agency of Canada

How can I acquire a home with as little as 5% down?2019-04-01T14:52:50-04:00


  • appraisal and legal fees
  • an application fee for the insurance
What is a pre-approved mortgage?2019-04-01T14:57:02-04:00

A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time (usually up to 120 days), and for a set amount of money. The pre-approval is calculated based on information provided by you and is generally subject to certain conditions being met before the mortgage is finalized. Conditions would usually be things like ‘written employment and income confirmation’ and ‘down payment from your own resources’, for example. Most successful real estate professionals will want to ensure you have a pre-approved mortgage in place before they take you out looking for a home. This is to ensure that they are showing you properties within your affordable price range. In summary, a pre-approved mortgage is one of the first steps a home buyer should take before beginning the buying process.

Can I use gift funds as a down payment?2019-04-01T14:43:35-04:00

Most lenders will accept down payment funds that are a gift from family as an acceptable down payment. A gift letter signed by the donor is usually required to confirm that the funds are a true gift and not a loan. Where the mortgage requires mortgage loan insurance, Canada mortgage and housing corporation (CMHC) requires the gift money to be in the purchaser’s possession before the application is sent in to them for approval. Where mortgage loan insurance is provided by GE Capital, this is not a requirement. See ‘what is mortgage loan insurance?’ for further information.

Can I get a mortgage to purchase a home?2019-04-01T15:00:13-04:00


How will child support affect mortgage qualification?2019-03-26T12:30:46-04:00


How does bankruptcy affect qualification for a mortgage?2019-03-26T12:30:46-04:00


What is the minimum down payment needed for a home?2019-03-26T12:20:20-04:00


What is a home inspection? Should I have one done?2019-03-26T12:20:20-04:00


How much can I afford to pay for a home?2019-03-26T12:30:46-04:00


