{"id":274,"date":"2019-01-09T22:01:27","date_gmt":"2019-01-09T22:01:27","guid":{"rendered":"https:\/\/completemortgageservices.com\/?page_id=274"},"modified":"2026-04-15T20:58:48","modified_gmt":"2026-04-15T20:58:48","slug":"home-purchase","status":"publish","type":"page","link":"https:\/\/completemortgageservices.com\/?page_id=274","title":{"rendered":"First-Time Homebuyer"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"274\" class=\"elementor elementor-274\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bb5cdb0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bb5cdb0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b57f340\" data-id=\"b57f340\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f5ba02 elementor-widget elementor-widget-image\" data-id=\"4f5ba02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"2560\" height=\"1707\" src=\"https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-scaled.jpg\" class=\"attachment-full size-full wp-image-739\" alt=\"\" srcset=\"https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-scaled.jpg 2560w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-300x200.jpg 300w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-1024x683.jpg 1024w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-768x512.jpg 768w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-1536x1024.jpg 1536w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-2048x1365.jpg 2048w, https:\/\/completemortgageservices.com\/wp-content\/uploads\/2026\/03\/pexels-rdne-8293700-500x333.jpg 500w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c247826 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c247826\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-10146da\" data-id=\"10146da\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-23db1d4 elementor-widget elementor-widget-text-editor\" data-id=\"23db1d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>First\u2011Time Home Buyers: Your Guide to Getting Started<\/strong><\/p><p>Buying your first home is a major milestone. It\u2019s exciting, but it can also feel overwhelming. Mortgages, down payments, approvals, closing costs\u2014there\u2019s a lot to navigate. This guide is designed to make the process clearer, calmer, and more achievable, no matter where you\u2019re starting from.<\/p><p><strong>What Does It Mean to Be a First\u2011Time Home Buyer?<\/strong><\/p><p>In Canada, being a first\u2011time buyer can mean more than simply purchasing your first property. You may still qualify for first\u2011time buyer programs if:<\/p><ul><li>You have never owned a home before.<\/li><li>You haven\u2019t lived in a home owned by you or your spouse in the last four years.<\/li><li>You are purchasing a home after the breakdown of a marriage or common\u2011law partnership.<\/li><\/ul><p>These definitions matter because they determine your eligibility for valuable incentives and tax benefits.<\/p><p><strong>How Do You Know What You Can Afford?<\/strong><\/p><p>Before you start viewing homes, it\u2019s important to understand what you can comfortably afford. This includes your down payment, monthly mortgage payments, property taxes, utilities, insurance, and closing costs. A mortgage pre\u2011approval gives you clarity and strengthens your position when making an offer.<\/p><p>Why working with a mortgage broker makes this easier<\/p><p>A broker helps you understand what you can truly qualify for\u2014not just what an online calculator suggests. That support includes:<\/p><ul><li>Accurate affordability guidance \u2014 Brokers review your income, debts, credit, and goals to determine a realistic price range.<\/li><li>Access to multiple lenders \u2014 You see a wider range of products and rates, which can increase your qualifying power.<\/li><li>Up\u2011front clarity on payments \u2014 You get a breakdown of monthly costs, including taxes and insurance, so there are no surprises.<\/li><li>Stronger pre\u2011approval \u2014 A broker-prepared file is typically more complete, giving sellers confidence in your offer.<\/li><li>Strategic advice \u2014 Brokers help you understand how different terms, amortizations, and down payment options affect what you can afford.<\/li><\/ul><p>The result, you start viewing homes with confidence, knowing exactly what fits your budget and what lenders will support\u2014making the entire buying process smoother and more successful.<\/p><p><strong>What Mortgage Options Should You Consider?<\/strong><\/p><p>There is no single \u201cbest\u201d mortgage\u2014only the one that fits your goals and comfort level. You\u2019ll consider:<\/p><ul><li>Fixed or variable interest rates<\/li><li>Different term lengths<\/li><li>Different amortization schedules<\/li><li>Insured or uninsured mortgages<\/li><li>Payment schedules and prepayment privileges<\/li><\/ul><p>A mortgage professional can help you compare options and understand how each choice affects your long\u2011term costs.<\/p><p><strong>How Do You Find the Right Home?<\/strong><\/p><p>Once you know your budget, you can enroll the help of a Real Estate professional to explore neighbourhoods, property types, and features that matter most to you\u2014whether that\u2019s a condo close to transit, a townhouse with room to grow, or a detached home in a family\u2011friendly area.<\/p><p><strong>What Happens When You\u2019re Ready to Make an Offer?<\/strong><\/p><p>Your real estate agent will help you prepare a competitive offer, negotiate terms, and include any necessary conditions such as financing or a home inspection.<\/p><p><strong>What Does Finalizing Your Mortgage Involve?<\/strong><\/p><p>Finalizing your mortgage means moving from an accepted offer to a fully approved loan that\u2019s ready for closing. Once the seller accepts your offer, your broker assembles your full mortgage application, collects the required documents, and submits everything to the lender for review. The lender then verifies your income, credit, down payment, and property details before issuing final approval. With that approval in place, you can confidently move ahead to closing and complete your home purchase<\/p><p><strong>When Do You Finally Get the Keys?<\/strong><\/p><p>On the possession day, the property officially becomes yours. This is when you receive the keys and can begin moving into your new home.<\/p><p><strong>What Programs and Incentives Are Available to First\u2011Time Buyers?<\/strong><\/p><p>Several programs can help reduce the upfront cost of buying your first home:<\/p><ul><li>First Home Savings Account (FHSA): A First Home Savings Account (FHSA) is a registered plan that helps first\u2011time homebuyers save for a down payment with powerful tax advantages. It combines the best features of an RRSP and a TFSA: contributions are tax\u2011deductible, and qualifying withdrawals for your first home are tax\u2011free.<\/li><li>Home Buyers\u2019 Plan (HBP): Withdraw from your RRSP to help with your down payment.<\/li><li>First\u2011Time Home Buyers\u2019 Tax Credit (HBTC): A non\u2011refundable tax credit to help with closing costs.<\/li><li>GST\/HST New Housing Rebate: Available for certain newly built or substantially renovated homes.<\/li><li>Provincial Incentives: In British Columbia, eligible first\u2011time buyers may qualify for a Property Transfer Tax exemption.<\/li><\/ul><p>These programs can make a meaningful difference in affordability.<\/p><p><strong>How Can a Mortgage Professional Support You?<\/strong><\/p><p>Working with a mortgage broker gives you access to guidance and clarity at every step. You benefit from:<\/p><ul><li>A clear explanation of your mortgage options<\/li><li>Access to multiple lenders and competitive rates<\/li><li>Help navigating first\u2011time buyer programs<\/li><li>Support with paperwork, timelines, and approvals<\/li><li>Someone who advocates for your best interests<\/li><\/ul><p>The goal is to make your first home purchase smooth, informed, and stress\u2011free.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45805e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45805e6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-b1c53e3\" data-id=\"b1c53e3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-60293a9 elementor-widget elementor-widget-spacer\" data-id=\"60293a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-17367aa elementor-align-center elementor-widget elementor-widget-button\" data-id=\"17367aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/completemortgageservices.com\/?page_id=110\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply Now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-ddca58b\" data-id=\"ddca58b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4bb667f elementor-widget elementor-widget-spacer\" data-id=\"4bb667f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93478a5 elementor-align-center elementor-mobile-align-center elementor-widget elementor-widget-button\" data-id=\"93478a5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/completemortgageservices.com\/?page_id=147\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Mortgage Tools<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>First\u2011Time Home Buyers: Your Guide to Getting Started Buying your first home is a major milestone. It\u2019s exciting, but it can also feel overwhelming. Mortgages, down payments, approvals, closing costs\u2014there\u2019s a lot to navigate. This guide is designed to make the process clearer, calmer, and more achievable, no matter where you\u2019re starting from. What Does [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"ocean_post_layout":"full-width","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","footnotes":""},"class_list":["post-274","page","type-page","status-publish","hentry","entry"],"_links":{"self":[{"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/pages\/274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=274"}],"version-history":[{"count":32,"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/pages\/274\/revisions"}],"predecessor-version":[{"id":847,"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=\/wp\/v2\/pages\/274\/revisions\/847"}],"wp:attachment":[{"href":"https:\/\/completemortgageservices.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}