First-Time Home Buyer Mortgages in Surrey & Lower Mainland BC
Everything you need to know to buy your first home with confidence.
Buying your first home is one of the biggest financial decisions you'll make. At Open Doors Mortgage, we walk first-time buyers through the entire process — from understanding how much you can afford, to navigating the First Home Savings Account (FHSA) and First-Time Home Buyer Incentive, to finding the mortgage product that fits your budget and goals. We serve first-time buyers across Surrey, Langley, Delta, Vancouver, Richmond, and Burnaby.
Understanding everything involved in buying your first home can seem overwhelming. No need to worry, we have a plan for you to follow.
Start Now
There is a lot of information you need to know when buying your first home. The earlier you start the process, the better prepared you'll be to actually make your homeownership dreams a reality. Contact us directly to get started.
Get a Preapproval
Income, credit and downpayment are what lenders look at when assessing you for mortgage financing. By working through these ahead of time, you'll know exactly where you stand when it comes time to buy your first home.
Trust your professionals
Once you've been preapproved, you can start looking for your first home. Through the process, you'll use services from many professionals, such as Realtors, Lawyers, Home Inspectors, and Appraisers. We'll guide you every step of the way.
Buying your first home is an exciting life milestone
We'll handle all the details so you can focus on what really matters most to you.
Mortgage resources about homeownership
4 Signs You’re Ready for Homeownership
If you’ve got at least 5% saved up for a downpayment, if you’ve established your credit profile, and you have the income to support mortgage payments, the best place to start the home buying process is with a preapproval. Learn more about the path to homeownership here.
Unsure About The Housing Market? Let's Talk.
There’s no doubt that buying your first home can be stressful, but it doesn’t have to be. Having a plan in place is the best course of action to help you make good decisions and alleviate that stress.
Learn more about getting credit to buy your first home
How to Establish New Credit
If you’re new to managing personal finance and you want to learn about credit, you’ve come to the right place. Establishing credit is simple when you have a plan to follow. Learn more here.
Will Collections Impact Your Mortgage?
Did you know that over 20% of credit reports contain some level of inaccuracy? If you have a collection account outstanding, even if it’s an error, your mortgage application will be held up until the problem is solved. Learn more here.
Learn more about your downpayment
How to save money for a downpayment
The key to saving money is getting clarity - clarity around your income and your expenses, developing and following a clear plan, and seeking help from professionals who can help you see the big picture as well as the details.
Downpayment Options
If you’re looking to buy a property, you’ll be required to come up with at least 5% of the property value for the downpayment. There are several ways you can come up with the funds. Learn more about your downpayment options here.
Difference Between Deposit and Downpayment
Do you know the difference between the deposit and downpayment? Learn more about these terms as they relate to the home buying process.
Getting the mortgage process started
Protect Yourself with a Pre-approval
One of the biggest mistakes when shopping for property is falling in love with something you can’t afford. Learn more about how a pre-approval can protect you.
Costs Associated with Buying Property
When purchasing property, in addition to the downpayment, you’ll be required to come up with the money to cover closing costs. There’s a lot to consider. Learn more about the costs associated with buying property.
⎯ Common questions
First-Time Home Buyer Questions
Surrey & Lower Mainland
What is the First Home Savings Account (FHSA) and how does it help?
The FHSA is a registered account that allows first-time buyers to save up to $40,000 tax-free toward a home purchase. Contributions are tax-deductible and withdrawals for a qualifying home purchase are tax-free. It's one of the most powerful tools available to first-time buyers in BC right now.
How much of a down payment do I need to buy a home in Surrey?
In Canada, the minimum down payment is 5% for homes priced under $500,000. For homes between $500,000 and $999,999, it's 5% on the first $500,000 and 10% on the remainder. For homes over $1 million, a 20% down payment is required.
What does it mean to get pre-approved for a mortgage?
A mortgage pre-approval means a lender has reviewed your income, credit, and financial situation and has conditionally agreed to lend you up to a specific amount. It gives you a clear budget before you start shopping and signals to sellers that you're a serious buyer. Open Doors Mortgage can often complete a pre-approval within 24–48 hours.
