Loans & Services

First-time Buyers

Planning your first purchase can be complex: pre-approval, locking in a rate and the Home Buyers' Plan (HBP). From the moment you decide to look for your home until the day you go before the notary, a mortgage professional is there to support you.

1. Pre-approval

Pre-approval lets you evaluate your financial ability to buy a property. At my office, by phone or at your home, whenever is convenient for you, you provide me with personal and financial information regarding your credit as well as the necessary documentation. We will discuss planning your purchase: the down payment (including the Canada Mortgage and Housing Corporation (CMHC) or GE Mortgage Insurance Canada insurance premium), interest rates, the term and amortization, early repayment and possible rate reductions or other promotions.

2. The HBP (Home Buyers' Plan)

The HBP is an innovative way to use your RRSPs toward owning your first home and, in certain cases, to become an owner again. With a maximum of $20,000 per person, this is a good source of financing for your down payment. We will discuss this at greater length at our first meeting...

3. Locking in Your Rate

Locking in a rate guards against a possible increase in mortgage rates from now until you purchase your property. Your rate can be locked in for 90 days to 6 months, depending on the lender. When we meet, we will lock in the term, the conditions and the rate that are best for you.

Suzanne Allard