Solutions · Buying & Renewing
Your first home, without the guesswork.
Buying your first place in BC has a lot of moving parts — the stress test, down payment math, government incentives, and a lot of terminology that doesn't make intuitive sense. We walk you through each step in plain language so you feel confident and informed, not overwhelmed.
- All BC incentives mapped
- Plain-language guidance
- Pre-approval that lenders honour
First-time buyer? You have more options than you think.
There are programs, incentives, and strategies specifically designed for first-time buyers in BC.
There is a lot to learn the first time through the mortgage process. The stress test, the down payment math, government incentives, and a lot of terminology that does not make intuitive sense on day one.
That is where we come in. We walk you through each step in plain language, help you take advantage of first-time buyer programs, and find you the best rate available for your situation. Our goal is for you to feel confident and informed — not overwhelmed.
How it works
How we approach your first home.
Initial consultation
We review your finances, explain the process end-to-end, and help you set a realistic budget. No commitment required, no credit check to start.
Pre-approval and planning
We get you pre-approved and walk you through every incentive program you qualify for so you can maximize your purchasing power — and your down payment.
Find, finance, and close
When you find a home, we lock in your rate and guide you through your offer's conditions, appraisal, and closing day. You won't be alone in any room.
What you get
What we bring to a first home.
First-time buyer programs
We help you access every incentive you qualify for, from the RRSP Home Buyer's Plan to the First Home Savings Account and BC's property transfer tax exemption.
Stress test guidance
We explain how the stress test works in plain language and help you understand your true qualifying amount versus what feels affordable.
Plain-language education
We explain every term and document in plain language so you always know what is happening and why. Translate-on-demand.
Down payment strategies
From RRSP withdrawals to gifted down payments to FHSA contributions, we help you assemble your down payment in the smartest order.
Navigating conditions
We coordinate with your real-estate team and lawyer so your offer's subject-removal deadlines never become a panic.
Total-cost view
We look beyond the rate on the sign to find the mortgage package that keeps your monthly costs manageable — and surfaces hidden costs upfront.
BC first-time buyer incentives.
A snapshot of the programs we map for every first-time client. We confirm eligibility based on your situation and walk through how each one affects your bottom line.
RRSP Home Buyer's Plan (HBP)
Withdraw up to $60,000 from your RRSP (or $120,000 as a couple) tax-free toward your down payment. Repayable over 15 years on a fixed schedule.
First Home Savings Account (FHSA)
A registered savings account where contributions are tax-deductible (up to $8,000/year, $40,000 lifetime) and withdrawals for a qualifying home purchase are tax-free. Often the most efficient first-home savings vehicle.
First-Time Home Buyer's Tax Credit
A non-refundable federal tax credit of up to $1,500 to help offset closing costs like legal fees and land transfer taxes.
BC Property Transfer Tax exemption
First-time buyers in BC may be exempt from property transfer tax on homes up to $835,000, with partial exemptions up to $860,000. A material savings on closing day.
First-time buyer GST rebate
First-time buyers of new homes valued up to $1,000,000 may qualify for a full GST rebate of up to $50,000. Partial rebates available up to $1,500,000.
30-year amortization for insured mortgages
First-time buyers can now qualify for 30-year insured mortgages, lowering monthly payments. The insured mortgage cap has been raised to $1,500,000.
Common questions
Frequently asked.
The FHSA is a registered savings account for first-time home buyers that launched in 2023. You can contribute up to $8,000 per year (up to $40,000 lifetime), and contributions are tax-deductible like an RRSP. The key advantage is that withdrawals for a qualifying home purchase are completely tax-free, similar to a TFSA. You can also transfer RRSP funds into an FHSA.
The stress test requires you to qualify at a rate higher than the one you will actually pay, typically the greater of 5.25% or your contracted rate plus 2%. This ensures you can still afford your mortgage if rates rise. It affects how much you can borrow, so we factor it into your pre-approval from the start.
Yes. The Home Buyer's Plan lets first-time buyers withdraw up to $60,000 per person ($120,000 for a couple) from their RRSP tax-free to put toward a home purchase. You have 15 years to repay the amount back into your RRSP, starting the second year after the withdrawal.
Beyond your down payment, budget for legal fees ($1,000-$2,000), home inspection ($300-$500), property transfer tax (though first-time buyers in BC may be exempt on homes up to $500,000), title insurance, and moving costs. We help you estimate these during pre-approval so there are no surprises.
Other ways we help.
Buying & Renewing
Purchase
Already comfortable with the process? Our broader purchase page covers the rate-shopping and lender-network side.
Learn moreBuying & Renewing
Renewal
We're with you for the next 30 years. When your first term is up, we shop your renewal 120 days early.
Learn moreAlternative Lending
Alternative Lending
If your situation doesn't fit standard qualification, alternative lenders can bridge you to a first home — with a plan to refinance later.
Learn moreReady to explore your options?
Ready to take the first step?
A 15-minute conversation is all it takes to understand what you can afford and how to get started. No obligation.