First Mortgages
Ready to buy a house?
A first mortgage is the primary loan on your home. If you’re buying a property, this one’s for you!
First Mortgage FAQs
What factors go into getting approved for a mortgage?
Lenders look at what we call the five C's. Credit, Capital (your income), Capacity (your income to debt ratio), Character (yes, they may google you!) and Collateral (condition of the property, location, history, essentially the characteristics of the real estate that will secure the mortgage).
How much will I have to pay in closing costs?
Closing costs are generally 1.5 % to 4% of the purchase price of your home.
What is a pre-qualification?
A pre-qualification provides you with a ballpark estimate of how much you may be able to afford based on your own self-reporting of your financial situation. This helps set a realistic price range for those eager to start shopping the real-estate market.
What can I use for a downpayment?
You can use your savings, a cash gift from a family member, borrowed funds such as lines of credit, equity from the sale of another property, or if you are a first-time homebuyer, you can use your RRSPs up to $35,000.
Use our free app to get pre-qualified or to calculate how much you can afford
More services
Credit Counselling
Struggling with debt? Credit counseling can help you take control of your finances.
Bridge Financing
Need a downpayment? Bridge financing can use your home equity to provide a downpayment.
Private Lending
Having trouble getting a mortgage? Private lending can help get you funded.
Apply for a mortgage today
Ready for your mortgage? Click the button below to submit an application with us for a mortgage. The application will take about 10 minutes total to complete, and partially completed applications can be submitted.