MARKET-LEADING RATES
EXPERT MORTGAGE BROKERS
98%
Success Rate
2 Hours
PRE APPROVAL LETTERS
48 Hours
Mortgage Secured
Get In Touch
Contact HomePass
If you have questions or need additional information, fill out the form, give us a call, or send an email, and we will get back to you within an hour
22 Frederick St Suite 700, Kitchener, ON N2H 6M6, Canada
FIRST TIME HOME BUYER
The HomePass Mortgage Process
- The Pre-Approval: Find out the mortgage amount and interest rate you qualify for. Most HomePass pre-approvals come with a 120-day rate hold.
- Deposit: First time buyers should be aware that a deposit must be submitted alongside an offer to purchase.
- Inspection: Home inspections typically average under $500, ask your real estate agent to include that any offer you submit is contingent on an inspection from a qualified professional. Home inspections are vital in knowing the true value of your property as it accesses the condition of the home
- Appraisal: Essential to mortgage financing, an appraisal is a condition in some mortgage agreements provided by a lender in order to gauge the value of the home.
- Down Payment: Your down payment is the amount of cash you’ll provide towards the purchase. Added together with the amount provided by a lender equals the total house purchase price. A down payment for first time buyers in Ontario (for example) must be as low as 5% (certain conditions apply) of the purchase price.
- Closing and Lawyer: All paperwork will be sent to the solicitor of your choice.
Purchasing your home can be one of the biggest and most important financial decisions that you may ever make. We recognize that getting a mortgage can be complicated and confusing, not to mention intimidating. The dedicated team at HomePass simplifies the process, assists you with any questions or concerns you may have and is there to provide you with financial solutions to get your mortgage approved at the lowest rate and with the most flexible terms.
If you are a first time home buyer, the Canadian government has tax credits and rebates that can help you save on closing costs. The first is a First-time Home Buyers’ Tax Credit which allows you to retrieve some of the closing costs associated with a purchase, like inspections and legal fees. The second is a Land Transfer Tax Rebate that permits first time buyers to recover a percentage of the land transfer tax paid on their house. This applies only to Canadians living in Ontario, British Columbia and Prince Edward Island.
HomePass is happy to guide you through every step of the process. When you contact us, there’s no high-pressure sales pitch or demand for a quick decision. Even if you don’t know what you need, we’ll help you figure it out. We have helped thousands of first time buyers find the right mortgage for their needs & budget. Our expert mortgage agents keep the financial side of the home ownership journey simple and straightforward, providing ongoing advice, exceptional customer service and access to exclusive mortgage rates across London, Guelph and Waterloo area.
Our mortgage experts allow for your home buying experience to be stress free and fast, with excellent and reliable communication throughout.
our services
What We Can Offer You
Entering the housing market and aren't quite sure what you can afford? Simplifying the process is what we do best…
We help newcomers realize their dream of home ownership in Canada with as little as a 5% down payment.
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We understand that buying a house may be one of the most important decisions in your life, let our experts…