First Home
First-Time Buyers
Understand down payments, qualification and closing costs before making an offer.
Who it helps
First-time buyers planning their budget and next steps.
Your first home starts with a workable budget
You do not need to have every answer before you talk to us. Start with what you hope to buy, when you would like to move and a monthly payment you could comfortably manage. We can help you identify the questions to resolve before an offer.
Plan for more than the down payment
Keep purchase funds and ongoing household costs in the same conversation. Alongside the down payment, ask about legal fees, land transfer tax, adjustments, inspections, moving expenses and a reserve for repairs. Taxes and condo fees also belong in your monthly budget.
What to have ready
- Your target price range, timing and a rough household budget.
- A summary of income, debts and savings; note whether any down payment will be a gift.
- Questions about employment changes, existing credit or a property you have in mind.
Not ready to apply yet?
That is a useful starting point too. If credit history or saving is your main concern, ask about preparing for a first mortgage. You do not need to own a home to have that conversation. Please keep account numbers, identification documents and financial statements out of this initial form.
For independent guidance, see FCAC’s down payment guide and what mortgage preapproval means.
How we help
A plan built around your goals
A budget you can explain
Discuss purchase costs alongside the monthly payment and the savings you want to keep available.
A clear preparation list
Find out which records a lender may need and when to provide them securely.
Room for your questions
Talk through down payment, credit and offer conditions before deciding whether to apply.
Process
Your next steps
1
Tell us your plans
Share your timing, approximate budget and the questions holding you back.
2
Review readiness
Discuss income, savings, existing commitments and the information needed for a lender review.
3
Confirm the property and conditions
When you find a home, confirm the lender’s property requirements and outstanding conditions before relying on financing.
Relevant team members
Talk with the team
Mortgage Agent Level 2
Team Lead
Rasha Ingratta
Rasha supports mortgage planning and financing decisions as part of the ShopMortgages.ca team.
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Mortgage Agent Level 2
Mortgage Underwriter
Vanessa Field
Vanessa supports buyers and homeowners with mortgage preparation, planning and clear next steps.
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What else to consider
- Down payment options
- Closing costs
- Offer readiness
FAQ
Common questions
Does preapproval guarantee my mortgage?
No. The property and your application still need to meet the lender’s conditions. Confirm what has been reviewed, what is outstanding and when any rate hold expires.
Can a family gift help with the down payment?
Tell the team who is providing the gift and when funds will be available. Ask which gift letter and transfer records the proposed lender requires before relying on those funds.
What if I am worried about my credit?
Start with a readiness conversation. You can review your own credit report and raise possible errors with the credit bureau. Mortgage options depend on the whole application; no approval or score improvement is guaranteed.
Start the conversation
Tell us about your mortgage goals
Tell us your question and how to reach you. Please leave account numbers and sensitive documents out of this form.