TL;DR

This page is execution-focused. For a deeper education resource, use the first-time home buyer guide.

Why first-time buyers use this service

Most first purchases do not fail on motivation. They fail on timing, assumptions, and missing details around down payment, closing funds, and underwriting expectations. We fix that with a broker-led plan that is documented, testable, and easy to execute.

Clarity before the offer usually saves more stress than speed after the offer.

Who this is for and who it is not for

Best fit

first-time buyers who want a complete pre-approval and closing plan, not just a rate quote.

  • Borrowers using one or more down payment sources (savings, gift funds, FHSA, or RRSP Home Buyers' Plan).
  • Households comparing payment comfort, approval certainty, and cash-to-close risk at the same time.
  • Buyers who want support from pre-approval through financing conditions and closing.

Not ideal

borrowers seeking a quote-only experience with no document prep or timeline support.

What changes the outcome: broker team workflow vs. do-it-yourself rate shopping

Decision area DIY rate-first path Broker-led service path
Pre-approval Headline rate first, documents later Document-backed qualification first, then lender-fit options
Down payment readiness Assumptions about source timing Verified source trail and funding timeline before offer pressure
Cash to close Often underestimated Line-item model including legal, tax, adjustments, and buffer
Condition period execution Reactive, fragmented follow-up Broker-driven checklist with lender, appraisal, and legal milestones

Federal policy checkpoints to verify before you write an offer

As of February 25, 2026, these are the policy checkpoints we confirm in first-time buyer files:

  • Minimum down payment: 5% up to $500,000 and 10% on the portion from $500,000 to $1.5 million; homes at $1.5 million and above require at least 20% down.
  • Insured mortgage scope: federal reforms expanded eligibility to purchase prices under $1.5 million and broadened 30-year insured amortization availability for first-time buyers and new builds (effective December 15, 2024).
  • RRSP Home Buyers' Plan: eligible withdrawals are up to $60,000 per person (withdrawals made after April 16, 2024).
  • FHSA: annual contribution limit of $8,000 and lifetime contribution limit of $40,000, subject to CRA rules.
  • Home Buyers' Amount: eligible buyers can claim up to $10,000 on their return for the purchase year.
  • First-Time Home Buyer Incentive: no longer accepting new applications (closed March 31, 2024).
  • First-Time Home Buyers' GST Rebate: currently published as proposed federal legislation for new homes, so timing and final rules should be confirmed before relying on it.

Rules can evolve. We validate the current version for your exact scenario before final commitment.

Our first-time buyer execution plan (from pre-approval to keys)

  1. Plan the budget: set payment comfort and stress-test your monthly range.
  2. Build down-payment proof: confirm source, documentation, and timing for every dollar.
  3. Model cash to close: include deposit timing, legal, taxes, adjustments, and contingency buffer.
  4. Submit a lender-ready pre-approval: qualify before emotional pressure from listings.
  5. Run offer-stage controls: map financing condition dates to lender and appraisal timelines.
  6. Close with fewer surprises: verify final numbers and legal milestones before funding.
First-time buyer budget planning workspace with calculator laptop and sunset city view
Strong files are built on realistic numbers, not best-case assumptions.

What we protect during offer week

Offer week is where first-time buyers feel the most pressure and make the most expensive mistakes. We keep the file grounded in data and sequencing so confidence is earned, not guessed.

  • Financing condition timeline aligned with lender processing reality.
  • Appraisal and document follow-up before deadline compression.
  • Deposit and closing-funds timing reviewed to avoid last-minute liquidity stress.
  • Clear fallback options if a condition cannot be met on schedule.
Happy first-time home buyer couple receiving keys at a new home in Canada
A reliable closing is the result of process quality across every step.

Decision traps first-time buyers face and how we correct them

Mental model Common trap Pragmatic correction
Anchoring bias Fixating on one attractive rate quote Compare qualification certainty, total cost, and execution reliability together
Present bias Optimizing only today's payment Stress-test for renewal, variable swings, and life changes before committing
Paradox of choice Getting stuck comparing too many options Use one decision scorecard and cut low-fit options fast
Regret aversion Avoiding commitment because no option feels perfect Define pass-fail criteria in advance and act when the file meets them

Best next step

Sources