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Making your first dream home a reality

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Home Financing
Buying your first home

Buying your first home

Here are a few key points to consider when planning to buy your first home.

Define your first home needs versus wants

Find the right home by understanding what’s important and what you can live without.

Decide on your budget including closing costs

When you’re saving for a home, you need to consider more than just your down payment. Determine how much your home will really cost.

Get pre-approved for a mortgage

Know what you can afford and show a seller you mean business by getting pre-approved.

Use a realtor to find your home

From uncovering hidden gems to making an offer, a realtor will give you expert guidance.

Take the next steps to finalize your mortgage

Once you have an accepted offer, it’s time to take the next step to homeownership: finalizing your mortgage.

Get peace of mind with home insurance

Make sure your prized possessions are fully covered. All it takes is the right insurance.

Book an Appointment

COASTAL COMMUNITY MORTGAGES

Mortgage Choices

Not all mortgages are created equal. Here's what we offer:

1. RATE TYPE

FIXED RATE

The interest rate and payment amount are locked in over the term.

Great for those who want the security of knowing their payments will remain the same.

VARIABLE RATE

The interest rate will fluctuate with the Prime rate over the term of the mortgage.

Great for those who think rates will decline so they can pay down more principal.

FIXED & VARIABLE RATE

A mortgage with a mix of fixed rate and variable rate components.

Great for those who want the security of a fixed rate with the flexibility of a variable rate.

2. PAYMENT SCHEDULE

MONTHLY

You make 12 payments a year due on the same day of every month.

Great for those who want to keep flexibility in their budgets.

ACCELERATED BI-WEEKLY

Your monthly mortgage payment is divided in two and that amount is due every two weeks.

Great for those who want to save in interest and pay off their mortgage faster.

WEEKLY

Your monthly mortgage payment is multiplied by 12 months and divided by 52 weeks to get a weekly payment amount.

Great for those who use a weekly budget to keep close track of their finances.

2. AMORTIZATION AND TERM LENGTHS

AMORTIZATION PERIOD

25 years

Great choice for first time buyers with less than a 25% down payment.

VARIABLE RATE

The interest will fluctuate with the Prime rate over the term of the mortgage.

Great for those who think rates will decline so they can pay down more principal.

TERM LENGTHS

Term length can range, but many first time buyers choose 5 years.

Great for those who want to lock in their interest rate for a longer period of time.

For the First Time Home Buyer

Our Learning Centre is dedicated to providing our members, clients & communities with content focused on improving financial health.

Should I buy now or wait?

Here are some things to consider to make the home-buying decision a little easier. Here are the pros and cons for each option.

Your pros and cons list >

Getting ahead in the home-buying game

If buying a home’s a race, your mortgage pre-approval is the “get ready, get set” before the “go.”

And you're off >

How much will my home really cost?

The first step in buying your dream home, next home or vacation home? Determining how much it will take to make it yours.

There's a calculator for that >

Discover More in the Learning Centre

ONE GRAND PLAN

Get $1,000 toward your down payment, plus helpful expertise

Contribute at least $100/month consistently and we’ll give you $1000 toward your down payment for a mortgage with us — with helpful info along the way!

Learn How

*Some conditions apply. Read the full terms and conditions here.

WORKING WITH A MORTGAGE EXPERT

A perfect mortgage for you — let's bring it home

Paint, flooring, fixtures — they can all be tailored to fit your needs. So why not your mortgage? Here's where we, and our customization skills, come in:

Combine different lending needs under one product

Finding a mortgage term and rate structure that's right for you

Securing solutions for future needs like an income property

Our featured rates

5-year fixed (insured)

2.090%

7-year fixed

2.740%

View all mortgage rates

*Rates are subject to change without notice. Interest rates are per annum. Terms and conditions apply. In the event of a discrepancy between the rates posted on this website and the official rates posted in our branches, the latter shall prevail.