first-time Home Buyers in Delta, BC.
New Home Purchase Overview
The purchase of a home is the largest purchase most people make during their lifetime.
At Dominion Lending Centres, we want to make every purchaser aware of the many mortgage options available to them before their purchase and closing date.
Now, more than ever, financial institutions are regularly launching new products and programs, making it easier to get into that new home sooner. Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making homeownership a reality for more people than ever.
Whether you are a first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres has access to the very best products and rates available across Canada.
How It Works
Get In Contact
Connect with me, and let’s discuss your mortgage goals and concerns.
I’ll provide a tailored action plan to secure the best possible outcome for you.
Get Your Documents Ready
Once we're settled, I’ll provide a list of required documents to move forward.
I’ll then present your application to one of my trusted lender partners to secure the best options for you.
Get Approved
I’ll coordinate with the lender to ensure a smooth process while keeping you informed every step of the way.
STILL NOT SURE?
Frequently Asked Questions
Have more questions about buying your first home? Get in contact with me today for a free consultation!
What qualifies as a first-time homebuyer?
A first-time homebuyer is typically someone who has never owned a home before or has not owned one in the past four years (depending on certain programs). In Canada, first-time buyers may qualify for government incentives, such as the First-Time Home Buyer Incentive and Home Buyers’ Plan (HBP). As a mortgage broker, I can help you determine your eligibility and access the best mortgage programs to make homeownership more affordable.
How hard is it to buy a house for the first time?
Buying your first home can feel overwhelming, but with the right mortgage broker, the process becomes much easier. The key challenges include:
-Saving for a Down Payment: Most lenders require at least 5% down
-Passing the Mortgage Stress Test : Ensures you can afford payments even if rates rise
-Understanding Mortgage Terms & Options: Choosing the right mortgage for your budget
-Getting Pre-Approved: Knowing how much you can afford before house hunting
Is it hard to get a mortgage loan if you are a young adult?
Getting a mortgage as a young adult can be challenging but not impossible. Lenders look at key factors such as:
Credit Score: A higher score helps secure better rates
Employment & Income Stability :A steady job or self-employment income is crucial
Debt-to-Income Ratio: Less existing debt makes approval easier
Down Payment: A larger down payment strengthens your application
If you’re a young adult looking to buy your first home, I can guide you through mortgage pre-approval and connect you with first-time homebuyer programs to help make homeownership a reality.
What are the requirements for a first-time homebuyer?
To qualify for a first-time homebuyer mortgage in Canada, you typically need:
A minimum 5% down payment (on homes up to $500,000)
Proof of stable income and employment
A credit score of at least 620 (higher scores get better rates)
Debt-to-income ratio within lender guidelines
Passing the mortgage stress test
My Mortgage ToolBox
