First-Time Buyers Guide
The size of your down payment can have an impact when purchasing a home, but with a good credit history, you may be able to go as low as 5%.
We offer assistance in exploring different options and programs to support your down payment.
When purchasing your first mortgage, having an exceptional and extensively-trained broker assisting you will not only ensure a hassle-free and satisfactory experience but also enable you to secure the most favourable rate and appropriate mortgage product from a suitable lender, resulting in savings in both stress and money.
Our brokers will communicate with all lenders on your behalf and are compensated via salary, providing you with impartial advice that is completely free of charge.
It’s important to keep in mind that there are additional costs that come along with the purchase price of a home.
These costs include:
land transfer taxes (if applicable)
To ensure that you are adequately prepared, it’s recommended that you have additional savings of at least 1.5% (and sometimes up to 4%) of the purchase price to cover these expenses. Lenders typically prefer to see that you have sufficient savings to cover these costs in addition to the down payment.