First-Time Home Buyers

Your first home in Halifax — made possible

Buying your first home is exciting and nerve-wracking. I'll walk you through every step so you know exactly what to expect — and feel confident doing it.

Your Journey

Step-by-step to your front door

1
Free Discovery Call
We talk through your income, savings, timeline, and goals. No paperwork yet — just clarity. Takes 20–30 minutes.
2
Pre-Qualification
I'll give you a realistic estimate of your borrowing power based on your income, debts, and down payment. No credit check needed at this stage.
3
Pre-Approval Application
We gather your documents (T4s, NOAs, pay stubs, bank statements) and submit to lenders. Pre-approval typically takes 24–48 hours.
4
Shop with Confidence
With a pre-approval letter in hand, you can make competitive offers. Your rate is typically held for 90–120 days while you search.
5
Offer Accepted → Closing
Once your offer is accepted, I work with your lawyer, lender, and real estate agent to get to closing day smoothly. I'm here for every question.
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Down Payment Options (Canada)

Canada has tiered minimum down payment rules. These are general guidelines — confirm with your broker:

  • Homes under $500K: Minimum 5% down (CMHC-insured)
  • $500K–$999,999: 5% on first $500K + 10% on the remainder
  • $1M+: Minimum 20% down (no default insurance available)

Note: Lower down payments require CMHC mortgage default insurance, which is added to your mortgage amount.

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Government Programs to Explore
  • FHSA — First Home Savings Account: Tax-free savings for first home (up to $40,000 lifetime)
  • HBP — RRSP Home Buyers' Plan: Withdraw up to $35,000 tax-free from your RRSP
  • First-Time Home Buyers' Tax Credit: Up to $1,500 tax credit at closing
  • GST/HST New Housing Rebate: Partial rebate on new construction

Program details change. Always confirm eligibility with your accountant and broker.

💡 The Stress Test

In Canada, you must qualify at the higher of: your contract rate + 2%, OR 5.25%. This "stress test" ensures you can handle rate increases. I'll show you exactly what you qualify for.

Get Pre-Approved
Fill in the form below. Gourav will review your details and reach out within one business day.

🔒 Your information is kept strictly private and never shared with third parties. By submitting, you consent to being contacted by Gourav Rai regarding your mortgage inquiry.

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Application Received!

Thank you! Gourav will review your details and reach out within one business day. Check your email for a confirmation.

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