First time home buyers

Resources to educate first time home buyers

One of our specialties is making home ownership a reality for any first time home buyers out there. As part of that process we talk our customers through the home buying process every day. It’s just what we do and how we do it.

There are many considerations to take into account, if you want to own your own home. We’re mortgage specialists and happy to walk you through the process.

Realtor showing a couple who are interested in buying their first home

Mortgage pre approval

A mortgage pre approval answers the question, “I wonder how much I would qualify for right now?” A mortgage pre approval is the first step in the home buying process, thereby taking the stress out of shopping for your dream home because you’ll have the confidence of knowing what you’re able purchase.

Mortgage Application Process

Our online mortgage application is the next best step to moving towards home ownership. It’s quick. It’s easy. It’s secure. It get’s you pre-approved!

Real estate agent showing first time home buyers the mortgage application process
A couple in their new home looking at floor plans

Common mistakes

At Canadian Mortgage Professionals we take pride in educating our first-time homebuyers of the process and all the ins and outs involved with reaching your dream. Here are a couple of points we’d like to bring to your attention when considering your dream.

Mortgage qualification criteria

Mortgage qualification criteria includes credit history, employment history, and down payment, but that’s not all.

Rear view of couple standing outside, looking at their first home
First time home buyer standing in his new room with a realtor

What is credit?

Credit is the ability to obtain goods or services before payment, based on the trust that payment will be made in the future. Credit can take many forms.

Why use a mortgage broker?

When it comes time in your life to purchase a home it can often be a very exciting time, until of course you start dealing with realtors, lawyers, home sellers, banks, and anyone else trying to get your business. Even for second-time home buyers this can be a daunting prospect, let alone for first-time home buyers.

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Using your RRSP to buy a home

Chances are you’ve heard someone talk about withdrawing money from their RRSP to buy a home. This is a pretty common practice and unless you have an employer-controlled RRSP, the money is usually yours to withdraw.

Mortgages for new Canadians

No one knows how to secure mortgages for new Canadians better than we do. By meeting a few specific lender criteria, home ownership becomes a reality.

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Here’s what some of our first time home buyers have to say

Our collection of mortgage calculators will help you project what your mortgage payment will be, and what you can afford.

Seizing the Opportunity: Canadians Embrace the New First Home Savings Account

Canadian banks are reporting a surge in interest in the newly introduced First Home Savings Account (FHSA) program. This innovative initiative empowers potential homebuyers to kickstart their homeownership journey by saving and investing for a down payment, all while enjoying tax-free benefits! At Canadian Mortgage Professionals, we’re thrilled to keep you in the loop about…

First Time Home Buyers Incentive Details

Learn about the new First Time Home Buyers Incentive and how it might work for you. We’ve captured details of the program and some pros and cons.

OSFI Responds to Industry Feedback

Good news from Canada’s Banking Regulator! After nine months of discussions with industry stakeholders, the Office of the Superintendent of Financial Institutions (OSFI) has decided not to move forward with certain proposed mortgage regulations. OSFI has confirmed that they won’t pursue two of their proposed regulations: debt-to-income (DTI) restrictions and debt service loan coverage restrictions.…

Helping
First Time Home Buyers

When making the life-changing decision to purchase a home, the last thing you want is to be overwhelmed with paperwork and unanswered questions. By using our services, you can turn this stressful process into an enjoyable, informative experience that could save you thousands of dollars over the life of your mortgage.

Canadian Mortgage Brokers Jackie & Bob

OUR SERVICES: An Overview