Where to actually start
Most first-time buyers start by looking at listings. The better first step is figuring out what you can actually afford and getting pre-approved, so you're shopping with a real number instead of a guess. It also makes your offers stronger once you find a place you want.
Down payment: what you actually need
In Canada, the minimum down payment is 5% on homes up to $500,000, with a higher blended percentage required as the price climbs above that. There are also programs and incentives aimed specifically at first-time buyers that can change what's realistic for you, worth exploring before assuming you need the often-quoted 20%.
Pre-qualification vs. pre-approval: pre-qualification is a rough estimate based on what you tell a lender, with no verification. Pre-approval means a lender has actually reviewed your documents and credit, giving you a real number to shop with, and often locking in a rate for 90 to 120 days.
What the process actually looks like
- Free consultation to understand your situation, goals, and budget
- Pre-approval across multiple lenders, so you know your real number before house hunting
- Offer support once you find a place, including helping structure a competitive offer
- Closing support through document collection, underwriting, and signing
Common first-time buyer questions
Almost everyone has the same worries the first time around: is my credit good enough, do I have enough saved, what happens if my offer falls through. None of these are unusual, and most have a straightforward answer once we look at your actual numbers together.
What I actually do
I walk you through your options in plain English, compare lenders on your behalf, and stay involved from pre-approval through closing so nothing catches you off guard along the way.