You don't need20% down.You need a plan.
Many first-time buyers can start with as little as 5%. Chad shows you what you can really afford, how to stack your FHSA, RRSP and first-time tax breaks, and gets you pre-approved before you fall for a listing.
No cost · No obligation · Takes about 2 minutes
Example at 4.79% with mortgage insurance. BC first-time buyer exemption applies up to $860,000.
Buying your first home is exciting. Figuring out the money isn't.
These are the worries Chad hears from first-time buyers every week. Tap the one that sounds like you to see how he'd solve it.
From "can we?" to "we got the keys."
Chad builds your plan around six questions every first-time buyer has to answer. Work through them here, then let him run the real numbers.
Your down payment, decoded
20% down is only required on homes over $1.5 million. Below that, the minimum is much lower, and it can come from more places than your savings account.
- FHSA: save $8,000 a year, up to $40,000. Tax-deductible in, tax-free out.
- Home Buyers' Plan: withdraw up to $60,000 from your RRSP, repaid over 15 years.
- Family gifts: most lenders accept them with a signed gift letter.
- FlexDown: 5% down from borrowed funds like a line of credit, with a 650+ credit score.
Know your real buying power
Lenders qualify you at a "stress test" rate, so your budget depends on more than your payment. Different lenders count income and debts differently, which is why one bank's number isn't the final word.
- 30-year amortization is open to all first-time buyers with an insured mortgage, lowering the payment you qualify on.
- Debts like car loans and card balances count against you. Paying one off can raise your budget.
- Lender choice: how bonuses, overtime and self-employed income are counted varies by lender.
Limited by your income and debts.
Estimate only: 4.79% rate, 30-year amortization, qualifying at 6.79% with standard debt limits, estimated property tax and heating. Your actual approval depends on the lender.
Get pre-approved, then shop with confidence
A pre-approval tells you your budget and holds a rate for 60 to 120 days while you look. When you find the one, you can write a stronger offer, faster.
- Share a few details below. Chad reviews your situation and picks the right lenders.
- You upload documents once through the secure client portal.
- Chad gets your pre-approval and walks you through your budget, payment and closing costs.
Closing costs, with no surprises
On top of your down payment, plan for legal fees, an inspection and adjustments. In BC, first-time buyers can skip some or all of the property transfer tax, and new builds can come with a big GST rebate.
- BC transfer tax: no tax on the first $500,000 for homes up to $835,000, with a partial exemption up to $860,000.
- New builds: a full GST rebate on new homes up to $1 million, reduced up to $1.5 million.
- Budget roughly $2,500–$3,500 for legal fees, an inspection and title insurance, plus any transfer tax.
Buy the fixer-upper, finance the fix
With Purchase Plus Improvements, you can buy with as little as 5% down and roll renovation costs into the same mortgage. Start making it yours right after you get the keys.
- Get quotes for the work. They're part of your application.
- Funds are held back at closing, then released once the work is done and inspected, within 120 days.
- Paint, flooring, kitchens, bathrooms, windows, doors and roofs all qualify. Appliances and structural changes don't.
Unusual income? Bumpy credit? Still possible.
Self-employed, newly hired, on contract, or rebuilding after a rough patch. Banks often say no to anything outside the box. Chad knows which lenders say yes, and how to present your file so they do.
"Chad came through for us where two other brokers failed. After a credit setback, we got a no-fee mortgage at an excellent rate. He's our hero."
Program details are summaries. FHSA and Home Buyers' Plan rules are set by the CRA; BC transfer tax rules by the Province of BC. Lender approval required.
Your first mortgage deserves a second opinion.
Your bank can only offer its own products. A broker is licensed to work with many lenders, which means Chad represents you.
"He is very knowledgeable and was always quick to respond to our questions. He took complete charge of things. I'd recommend him in a heartbeat."
"Chad came through for us where two other brokers failed."
"Thanks Chad! You are the best. So appreciative of all your hard work."
"A mortgage can be a powerful financial tool if managed correctly."
Chad has spent 20 years as a mortgage broker, focused on residential mortgages. Your first mortgage sets the pattern for decades, so he builds in a plan from day one that can take a 25-year mortgage down to about 16.
Four steps to your front door.
You'll always know what's next. Chad explains every step in plain language, and you'll never be rushed.
Share a few details
Two minutes, below. Chad reaches out to talk through your goals.
Get pre-approved
Upload documents once. Chad shops lenders and holds your rate.
Shop with confidence
Know your budget, payment and closing costs before you write an offer.
Get the keys
Chad handles the lender paperwork through to funding, and builds your payoff plan.
Straight answers.
How much do I really need for a down payment?
Can I use my FHSA and RRSP for the same home?
Should I choose a 30-year amortization?
What closing costs should I plan for?
Does getting pre-approved affect my credit?
What does it cost to work with Chad?
Your first home starts here.
Share a few details and Chad will reach out to map your down payment, budget and next steps. No pressure, no jargon.
- Your real budget, from many lenders
- A down payment plan using FHSA, RRSP and gifts
- Every closing cost, before you make an offer
Thanks. You're on Chad's list.
He'll be in touch shortly, usually within one business day. Want to move faster?