Your browser version is outdated. We recommend that you update your browser to the latest version.

First Time Home Buyers

Buying your first home can be very stressful. At RCF our experienced Mortgage Planners will guide you with the decisions you need to make and help you understand how much you can afford to spend on your mortgage, and to explore both traditional and alternative mortgage options.

We have access to the best mortgage rates with programs that can help you achieve your homeownership goals.

There are programs available to assist First-Time Buyers.

For example, the 95% high-ratio financing program through Canadian Mortgage and Housing Corporation (CMHC), and Genworth Financial (formerly GE Mortgage Insurance).

CMHC also permits first-time buyers to borrow their 5% from any other source under certain conditions.

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 (after January 27, 2009), from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.

We can help you determine if you qualify for any First-Time Buyers Programs and recommend how you should proceed.

We make sure your mortgage meets your needs. Mortgage is not only the interest rate; we look at other features and consider your future plans, such as mortgage penalty, the ability to transfer the mortgage to a new home or prepayment options.