Buying Home For First Time
Ready to give your Landlord Notice?
Here’s How We’re Going to Make It Happen!
Step 1
The Discovery Call
It’s All About You!
In this step we’ll have a casual conversation and:
- Get an understanding of what you want to buy
- Talk about what area you want to live in
- Your budget and some rough mortgage numbers
- Your future plans both work and life
After going through this step you’ll feel optimistic about your options and confident you’re in the right place.
Step 2
Develop a financing plan
Mortgages Demystified!
In this step we’ll work our magic behind the scenes and:
- Map out your purchase price range
- Talk about the best products and the lenders that meet your needs
- Show you how various purchase prices fit with your budget
- Map out how much money you’ll need to complete the purchase
- Secure a pre-approval with several lenders
After this step you’ll feel excited about the possibilities and ready to go shopping!
Step 3
Let’s Go Shopping
Now the Fun Begins!
In this step our experience really shines through! And we’ll be there to:
- Help with the big “Is This The One?” decision
- Revisit the monthly budget, making sure it all fits
- Guide you through what making an offer looks like
- Get you a lightening fast approval
This step is usually emotionally charged! Don’t worry, we’ve got you, and we’ll be there every step of the way.
Step 4
Offer Accepted!
Ready to Call the Movers?
In this final step we’ll guide you through:
- Wrapping up the mortgage approval with the lender
- Removing final conditions on your offer to purchase
- Connect you with a great Notary
- Map out the last few steps before your completion date
You did it! Clients often say they can’t believe how easy we made it for them. Just 1,2,3,4 put the key in your new front door!
Coming home to a place that you can call your own.
How amazing would that feel?!
Wondering What The Numbers Look Like?
Why use a Mortgage Broker?
Banker vs Nishka Riley Mortgage Team
Nishka Riley Mortgage Team
Product Options
We have access to various lenders, providing a wide range of mortgage products.- Interest Rates
We can often offer competitive interest rates by shopping around among multiple lenders. - Personalized Service
We work independently and focus on your needs, offering personalized guidance. - Communication
We maintain clear and open communication, ensuring you understand the entire process. - Flexibility and Advocacy
We are your advocate. We work to find the best terms and conditions to meet your financing needs.
Banker
Product Options
Limited to offering only the products available within their own bank- Interest Rates
Bankers are confined to the rates set by their own institution, potentially limiting options. - Personalized Service
Bankers are constrained by the policies and procedures of their specific bank. - Communication
Bankers wear many hats and may not have the time to communicate the progress of your file. - Flexibility and Advocacy
Bankers represent the interests of their employer, which may not always align with the borrower's best interests.
How The Nishka Riley Mortgage
Team Can Help You
Over the past 20 years, we have been helping people like yourself call North Vancouver, Squamish and Vancouver home. If you are in the early stages of your search, download our award winning mortgage calculator, which factors in local taxes and average strata fees for the area you are considering. Since we are a part of the Dominion Lending Centres network, we have access to lenders like Scotiabank, TD Canada Trust, Blueshore Credit Union, MCAP and dozens more. Because of our lender relationships, we can find a mortgage solution that meets your needs. As a first-time buyer, even if you are self-employed or have credit challenges, you’ll want to harness our experience to guide you through the mortgage maze. As a first-time buyer, you have a lot of questions: fixed vs variable, what is an insured mortgage, which realtor should I use, notary vs lawyer; we’ll be there every step of the way and help you with each one. Come experience why we are one of the highest ranked North Vancouver mortgage brokers by Google reviews.
First Time Home Buyer Incentives
Insights into programs that will help you get your foot in the door.
First Home
Savings Account
(FHSA)
Supercharge your down payments for your first home. Contribute up to $8,000 yearly, to a maximum of $40,000 over 15 years. Growth is tax sheltered, and you can transfer to an RRSP if you don’t buy. Contributions could result in a tax refund, compounding your down payment savings. There's no 90-day deposit requirement, but the contribution deadline is December 31st.
RRSP
Home Buyers Plan
(HBP)
Each buyer can withdraw up to $60,000 tax free from their RRSP for a 1st home’s downpayment. The funds must be in the RRSP for 90-days and an accepted offer on a qualifying Home. Repayment of the withdrawal is done at a minimum of one-fifteenth every year. Explore our tips to optimize this program and accelerate your 1st home purchase.
First-Time
Home Buyer
Incentive
This program is a Federal Government shared equity, no monthly payment mortgage. The mortgage size ranges from 5% for resale homes to 10% for new construction. The government shares some, but not all, value fluctuations. Repayment is based on the home's market value at sale or refinance, with a 25-year maximum time frame. Qualification is super challenging.
What Our Clients Are Saying
Get a feel of how we work with First Time Home Buyers